Tuesday, February 1 2011 15:04
Areximbank-GPB Group to start providing pensions through Visa Electron or MasterCard Maestro cards
ArmInfo. Starting March 2011 Arexibank-Gazprombank Group will provide pensions on plastic cards of Visa Electron and MasterCard Maestro systems.
Elena Markova, Advisor to Areximbank-GPB Group Director General for Public Relations, told ArmInfo two packages will be offered to pensioners: Pension Privilege and Pension Standard. Plastic cards will be provided free of charge.
The source reported that pensioners will get an opportunity to receive pensions through ATMs and commission free as well as accumulate their funds on card accounts and receive interests. For this purpose, pensioners are required to apply to any branch of Areximbank-GPB Group and make a contract.
To recall, the provision of pensions through plastic cards is part of the government project of non-cash payment of pensions. Contracts have been signed with 13 banks (Areximbank-GPB Group, ACBA-Credit Agricole Bank, ARARATBANK, Ardshininvestbank, ADB, Converse Bank, Armbusinessbank, Armeconombank, Mellat Bank, Prometey Bank, VTB Bank (Armenia), BTA Bank) and 5 settlement organizations (Adalev Ria, Edram, Quadracom, MEGA PANTERA).
Since 2007, 100% of the Bank has been owned by one of the largest Russian banks - Gazprombank Open Joint Stock Company. As a universal financial and credit organization, Areximbank offers the full range of banking products. The bank jointed Visa International in 2002 and MasterCard international in 2005 as well as ArCa local payment system in 2009 (with a status of serving bank). In 2009 the bank completed migration of its own processing center into the processing center of Russian Gazprombank OJSC.
Areximbank-GPB Group was the first bank in Armenia to introduce on-line service of plastic card reservation. As of October 1 2010 the bank service nearly 19,000 cards, including over 85% Visa International. The bank served 43 ATMs (27 in Yerevan and 16 in the region) as of October 1 2010.