Wednesday, April 18 2012 17:00

Araratbank to make Diners Club cards accessible to the Armenian elite


ArmInfo. Araratbank is going to make Diners Club cards accessible to the Armenian elite.

The bank acquired the exclusive right to issue the cards in early Apr 2012.

While presenting the cards on Wednesday, CEO of Araratbank Ashot Osipyan said that this year the bank is planning to issue 5,000 cards and to triple their number in the next three years. By the end of this year the bank is going to create an acquiring network for the cards in cooperation with 12 Armenian banks.

"At first, we will provide only acquiring services, but then we will start issuing the cards. For the moment we are working on their design," Osipyan said.

Representative of Diners Club International Jean-Francois Paul said that Diners Club are very popular abroad and expressed hope that in Armenia they will also be popular. He said that Diners Club was set up in 1950. In July 2008 it was sold to Discover Financial Services.

CEO of Armenian Card Ishkhan Mkhitaryan pointed out that Diners Club cards first appeared in Armenia in 1972 as part of the Soviet Insturist system. He expressed hope that the partnership with Diners Club International will improve Armenia's rating among potential tourists.

Araratbank has over 90,000 active cards, 64 ATMs and 352 POS- terminals.
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