Saturday, August 11 2012 14:42
Armenian Idrams convertible into Webmoney and Yandex money
ArmInfo. Armenian users can convert e-money - Idram - commission free, Director of Idram Company Gayane Stepanyan said in an interview with ArmInfo.
She said Idrams can be converted into Webmoney or Yandex Monday at www.uchange.net. No commission fee is charged for the service. The money is exchanged on the most favorable terms for both the parties. The terms are determined by the service provider.
"By means of Idram users can effect various transactions with e-money, such as online payment for communal services, redemption of loans, payment of fines and taxes, as well as exchange of e-currency, e-shopping, betting, etc." G. Stepanyan said.
Electronic money (e-money) is electronically (including magnetically) stored monetary value, represented by a claim on the issuer , which is issued on receipt of funds for the purpose of making payment transactions, and which is accepted by a person other than the electronic money issuer, she said. Types of e-money include pre-paid cards and electronic pre-paid accounts for use online. Users of Idram system can replenish their accounts via terminals, through cash-in terminals of partners-banks or branches of Idram company, and through bank transfers via plastic card ArCa, Visa and MasterCard and others, Stepanyan said.
She recalled that activity of Idram company is regulated by the regulatory acts of the Armenian Central Bank. Any company licensed by the Armenian Central Bank to effect money transfers and having relevant permission can issue e-money. Reliability of the system is guaranteed by the eight-level security system: SSL, VeriSign and Thawte certificates; PIN-code (an e-signature of a user providing access to its account and personal data); virtual keyboard ensure safe typing of PIN-code; restriction of requests and transferring possibilities by robots through generation of digital images, which guarantees presence of a real user; data secrecy; permanent automatic data archivating that allows restoring the lost data at any time; verification of rights; registration and data storing (ID, IP, time. date, request and others) and 24-hour control.
EDram is the leading internet payment system in Armenia allowing e-payment through e-money equivalent to the Armenian dram. The company officially presented e-money in Armenia on March 6 2012. To get access to e-money system, a user needs to register in the Idram system and accumulate e-drams equivalent to the national currency. The system has nearly 50,000 users now, with a year over year growth being 110%.
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