VTB Bank (Armenia) launches cashback service for all its cardholders

ArmInfo. VTB Bank (Armenia)  announces launch of new service aimed at stimulating growth of  non-cash payments. Due to the service payment for daily  purchases/services via VTB Bank Armenia cards will be not only fast  and convenient but also beneficial. The press-service of the bank has  told ArmInfo that starting from October 2016 all the holders of Visa  and MasterCard receive cashback-rewards for non cash transactions in  "Cashback N1" trade network. 

The number of trade-service centers of Cashback N1 where the holders  of VTB Bank (Armenia) will get cashback-rewards totals 300 on the  whole territory of Armenia. The amount of cashback reward is up to  15.9% from the spent sum. The cashback reward will be transferred on  the client's card account till the 15th day of each month for  non-cash transactions in Cashback N1 made within previous month. 

One can get additional information about the service in the branches  of VTB Bank (Armenia) on the www.vtb.am website, or by calling 87-87  Information center of the Bank. More detailed information about  Cashback N1 network is available on  http://onecard.am/best-partners.html website. 

According to ArmInfo's Analytical Review "Armenian Banks in Card  Business", VTB Bank (Armenia) retains leadership on the market of  plastic cards both by the number of cards and the amount of  transactions. By 1 April 2016, the number of active cards of the Bank  made up 496.6 and the amount of transactions exceeded 210.3 bln drams  in 2015.  The Bank has the biggest number of Visa cards - over 418.2  thsd by 1 April 2016, the number of MasterCards is over 78.3 thsd.  Due to the serious (almost 5-fold) year-over- year growth in active  MasterCards amid moderate (8.7%) rise in active Visa cards, VTB Bank  (Armenia) increased the total number of active cards by 23.8%. As a  result, the amount of transactions with cards grew by 12.8% over  year, mostly due to the 21.3% growth in ATM transactions.  The share  of Visa cards in total number of active cards of VTB Bank Armenia  exceeded 84% by April 1, 2016. As of 1 April 2016, VTB Bank (Armenia)  had 157 ATMs, including 78 in Yerevan and 79 in the provinces.  The  Bank has considerably enlarged its own network of POS- terminals -  from 298 to 345. Besides, VTB Bank Armenia and ACBA-Credit Agricole  Bank has created united bank network accounting 345 ATMs all over  Armenia. By the number of ATMs the bank holds the 2nd position while  by the number of POS-terminal network it has entered the leading top  10. 

To note, before 2013 VTB Bank (Armenia) issued and serviced only Visa  cards. In September 2013, it became a full member of MasterCard  Worldwide and started issuing and servicing Cirrus/Maestro,  MasterCard Standard and MasterCard Gold cards. The Bank also services  ArCa local cards.

To recall, VTB Bank (Armenia) joined VTB Group in April 2004 and is  fully owned by VTB Group, the second biggest bank in Russia. VTB Bank  (Armenia) is one of the leaders of Armenia's banking sector.