Tuesday, October 11 2011 19:24
Armeconombank permitted by CB to participate in VISA international payment and settlement system
ArmInfo. At today's sitting the Council of the Central Bank of Armenia gave Armeconombank a permit to participate in VISA international payment and settlement system, the CBA press service told ArmInfo.
Armeconombank told ArmInfo that as of 1 Oct 2011 the total number of active cards made up 136 thsd, 99 thsd of them being local cards and 37 thsd international cards. Armeconombank became a member of the VISA system in 2010. The bank has completely replaced its cards with chip cards already.
In addition to the co-branding debit pension local cards with Natalie Pharm and the co-branding ArCa Gold cards with Paradox (with discounting at 200 trade points of Armenia), Armeconombank is also going to issue co-branding cards for the Defense Ministry (salary cards with possible provision of education loans to the officers' children), as well as credit cards with ArmRusgasprom (for the consumers to pay for gas used in winter time) and ArmenTel.
According to the analytical review "Banks of Armenia in Card Business" by the Agency of Rating Marketing Information (ArmInfo), as of 1 Apr 2011, Armeconombank was in the lead by both the total number of active cards and the number of local ArCa cards and international MasterCards. Armeconombank also occupied leading positions by the number of salary cards, whose share in the total number of cards makes up 80%, as well as by the number of annually issued ArCa and MasterCards. By the number of ATMs and POS-terminals, Armeconombank is on the list of top ten leaders, and by the number of ATMs in Yerevan – on the list of top five leaders.