Convers Bank launches service "ConverseQvota" for cardholders - profitable purchases on credit at zero rate and no commission

ArmInfo. As the Bank reports, Converse Bank launches a new service - "ConverseQvota", thus enhancing the opportunities of credit line/limit usage by the Bank's cardholders. 

'This is an unprecedented offer for Armenia, which allows making advantageous purchases with credit card in the Bank's partner network in service and trade sectors, paying for them gradually, without interest amount or commission fees. Namely, within the framework of "ConverseQvota" service, an amount equal to the cost of the purchased product or service will be separated from the customers' credit line/limit and will be scheduled for payment within a maximum period of 12 months, in form of an interest-free loan. The cost of the purchased goods will be repaid during the maturity term of the loan in equal installments, allowing the customers to optimize their expenses and plan the family budget, without paying a big amount at once", - we were told at the Bank, and they emphasized once again that within the period of service of the loan no interest will be accrued towards the cost of the purchased product.

In parallel, the funds used from the credit limit will be automatically replenished in the amount of the monthly instalment for the cost of the purchased product or service.

During the first stage of implementation of "ConverseQvota" service, the Bank's cardholders having a credit limit /credit line will have the opportunity to make use of the services offered by Visa Concord, Tatev, Liberty, and Gasa travel agencies and buy a travel voucher, an air ticket, or a travel package on favorable terms.

"Currently, we are in the process of negotiations aimed at expanding the partner network in the service and trade sectors and providing the customers with more comprehensive services", - they concluded at the Bank.

According to the Analytical Survey "Armenian Banks in the Card Business", prepared by IC ArmInfo, Converse Bank, as for the total number of active cards, and the number of Visa is included in the TOP-5.  By October 1, 2016, the bank has increased the number of Visa by 15.3% per annum up to 44.3 thousand units. In the total number of active cards of the bank, Visa accounts for 33%. The volume of plastic transactions in Converse Bank increased in the annual section by 14.8% to 147.7 billion AMD, having risen on this indicator from the 3rd to the 2nd position. The Bank as of October 1, 2016 has 101 ATMs and 572 own POS terminals, with an annual growth by 8.6% and 27.4%, respectively. Converse Bank issues and also serves Visa and MasterCard on a par with local ArCa cards.