Wednesday, July 23 2014 16:36
Idram invites PayPal to Armenia
ArmInfo. PayPal, a major international e-commerce business, is already available in Armenia via the Idram Internet Payment System. Gayane Stepanyan, Executive Director at Idram LLC, said at a press conference on Wednesday that Armenian users get an opportunity to convert money into other currencies on the PayPal accounts and withdraw the cash at Idram's branches. Earlier the Armenian users could use PayPal only by registering their international bankcards in that system.
She said that a specialized website (paypal.idram.am) has been launched to enable the users to withdraw cash from the PayPal account within seconds. In order to do that, one needs to insert the recipient's name in the relevant section of the website. Stepanyan added that the company will shortly launch another service for replenishing the PayPal wallet from the Idram account.
She recalled that Idram enables the Armenian users to make use of not only PayPal services, but also the services of Google Wallet and WebMoney. In the near future Idram is going to ensure other international systems' entry into Armenia's e-commerce market, as well as to enhance the availability of the incumbent companies' services for the local users. This will become possible due to cooperation with ePrime Global (USA).
"When withdrawing cash from the international e-wallets and converting other e-currencies, the Armenian users used to come across numerous problems. However, due to our cooperation with ePrime Global, it will shortly be possible to convert the Armenian e-money into any foreign currencies. Furthermore, Idram will make many services of international systems available in the Armenian market," said Stepanyan. She added that on the occasion of its 10th anniversary, Idram intends to make new offers, which are innovative and unprecedented for the Armenian market.
"Iram" LLC, the operator of the Idram payment system, was founded on 8 May 2008. The company was licensed by the Central Bank of Armenia on 29 December 2009 ("License for execution of money transfers N13"). Idram LLC was the first in Armenia to be licensed by the Central Bank (6 March 2012) to issue electronic money. Idram also provides the mobile wallet service for iOS and Android-based devices. The company has 14 branches.
PayPal is a safe and easy way to pay and get paid online. The service allows anyone to pay in any way they prefer, including through credit cards, bank accounts, PayPal Smart Connect or account balances, without sharing financial information. PayPal has quickly become a global leader in online payment solutions with more than 153 million accounts worldwide. Available in 190 markets and 24 currencies around the world, PayPal enables global e-commerce by making payments possible across different locations, currencies, and languages. PayPal has received more than 20 awards for excellence from the internet industry and the business community -most recently the 2006 Webby Award for Best Financial Services Site and the 2006 Webby People's Voice Award for Best Financial Services Site. Located in San Jose, California, PayPal was founded in 1998 and was acquired by eBay in 2002.
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