Monday, November 20 2023 20:50

ArmInfo. In Armenia, Acba Bank and Converse Bank are starting to issue cards of the China UnionPay  system. Let us remind you that Acba Bank has been servicing China UnionPay cards since October 2019. ArmInfo was informed by Acba Bank and Converse Bank.

Days earlier the Central Bank of the Republic of Armenia gave  permission for Acba Bank and Converse Bank to participate in the  UnionPay International (UPI) foreign settlement and payment system. 

According to data available to ArmInfo as of September 30, 2023, Acba  Bank has over 360 ATMs (including the combined network with  Ardshinbank) and 38,789 POS-terminals, and Converse Bank has 130 ATMs  and 3,250 POS-terminals. Both Acba Bank and Converse Bank, at the  same time as issuing the local ArCa card, also issue Visa and  Mastercard cards from the international systems. Acba Bank is a  leader in the total number of active cards (including taking leading  positions in the number of ArCa and Visa cards), in the volume of  plastic transactions, ATM transactions, Internet transactions, in the  number of ATMs and POS-terminals. Converse Bank is included in the  TOP-5 in terms of volumes of plastic transactions and Internet  transactions, by the number of POS-terminals and by the number of  Visa cards.

China Union Pay was founded in 2002. UnionPay International (UPI) is  a subsidiary of China UnionPay and is focused on growing and  supporting UnionPay's global business outside of China. In  partnership with more than 2,500 financial institutions around the  world, UPI provides the ability to use cards to pay for goods,  services and withdraw cash in 181 countries. UnionPay cards are  issued in more than 79 countries.  Outside of China, 200 million  cards of this system have already been issued. According to the final  data for 2020, 45% of transactions in the world were carried out  using cards of this system.