Tuesday, September 25 2012 20:39

Bankcards start enjoying popularity among pensioners in Armenia


ArmInfo. The bankcards have started enjoying popularity among the pensioners in Armenia, the press service of Armenian Card (ArCa) national payment operator of Armenia, told ArmInfo.

The source says that since early 2012 the number of users (pensioners) has grown from 17346 to 23088 by early September.

To recall, since early 2011 the pensioners have been able to receive their pensions with the bankcards. It is for the pensioners to decide which bank to choose. This is a part of the pension reforms initiated by the Government and aims to solve the problem of big queues. 12 out of 21 commercial banks of Armenia participate in this program. Most of the bankcards fall on VTB Bank (Armenia), Armeconombank, Ardshininvestbank, Unibank.

According to the Analytical Review "Armenian Banks in Card Business" by the Agency of Rating Marketing Information, as of 1 April 2012, the number of pension cards issued totaled 70 thsd (more than 40% over the first half of 2012, twofold growth as compared with the same period of 2011). 30,000 cards or nearly 43% of the total number of cards are local ArCa cards, 33.5 thsd - Visa, and a little more than 6 thsd - MasterCards.
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