Thursday, June 19 2014 14:05

Converse Bank introduces more new e-commerce products


ArmInfo. Converse Bank introduces new product - eCommerce system for local companies. From now on, the local companies get an opportunity to accept payments via Visa and MasterCard payment systems from any countries with low commission fees. Converse Bank's press-service told ArmInfo the new service will open global e-commerce for local enterprises. Converse Bank has introduced and applies modern mechanisms of secure operations in the e-commerce system for its cardholders and entrepreneurs.

According to the source, eCommerce system and a range of new IT-products will be introduced at the Digitec Business 2014 Forum in Yerevan on 20-21 June. Converse Bank will introduce its IT-products and services development strategy at the event.

"Development of e-commerce will foster economy of Armenia. This is one of the reasons why we have began introducing up-to-date technology solutions in the financial market," says Raffi Kasarjyan, Head of the Strategic Development Division at Converse Bank.

According to ArmInfo's analytical review "Armenian Banks in the Card Business," as of April 1 2014, Converse Bank served 84 ATMs (51 in Yerevan and 33 in the regions), as well as 374 own POS-terminals. The bank issues and serves cards of the local ArCa system, and Visa International and MascterCard systems. The bank's active cards for the period under review exceeded 128,000 with almost 30% y-o-y growth (due to significant growth in the number of local cards). A similar growth was registered also in the field of transactions on the bank's plastic cards.

Converse Bank CJSC was founded in 1993. The bank's shareholders are Advanced Global investments LLC (95%) and Mother See of Holy Etchmiadzin (5%). The bank serves 35 branches, mainly in the regions.
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