VTB Bank (Armenia) has started receiving contactless MasterCard PayPass cards in outlets

ArmInfo. VTB Bank (Armenia) launches reception of contactless MasterCard PayPass cards in the trade network. As ArmInfo was told in the press service of the Bank, customers can pay by contactless MasterCard PayPass card of VTB Bank (Armenia) and other banks (local and foreign) by simply touching the terminal at the trade and service point where the PayPass logo is present.

The source reports that in early 2018, all retail outlets of VTB Bank (Armenia) will be equipped with devices that read the contactless MasterCard PayPass cards.

In the case of contactless MasterCard PayPass cards, payment is instantaneous, in one touch of the card to the POS terminal, without the need to transfer the card to the cashier's hand. The unique technology of contactless payments PayPass is one of the most modern, fast, affordable and reliable ways of making card payments around the world. Thanks to this technology, the customer service time is shortened, which, accordingly, leads to a reduction in queues at the cash offices.

When making contactless payments with MasterCard PayPass cards of VTB Bank (Armenia) for less than 10 000 AMD, PIN code entry is not required, which facilitates instant confirmation of payments. The contactless method of payment greatly simplifies the work of the point-of-sale cashiers. to make payment to the cashier it is required to carry out 2 simple steps (instead of 4 in the case of standard payments) - activation of the POS terminal and input of the payment amount. Then the client himself, after checking the purchase amount on the terminal, presents the card to the reading POS terminal - and the purchase is paid.  According to the 16th issue of the analytical review "Armenian Banks in Card Business" prepared by IA ArmInfo, VTB Bank (Armenia) holds the leading position in terms of the number of active cards, both general and MasterCard and Visa, as well as the volume of plastic transactions. So, on October 1, 2017, the Bank has almost 334 thousand cards, of which over 181 thousand are MasterCard. For 9 months of 2017, the volume of plastic transactions on VTB Bank (Armenia) cards was 181.2 billion drams, of which about 93% or 167.2 billion are ATM transactions. The Bank managed to increase the volume of plastic transactions in the annual cut by 13.5%, and ATM transactions by 14%. Until 2013, VTB Bank (Armenia) issued and serviced only international VISA cards, and since September of that year, having become a full member of the international payment system MasterCard Worldwide, started issuing and servicing Cirrus / Maestro and MasterCard cards, along with servicing and local ArCa cards. VTB Bank (Armenia) has its own processing.

VTB Bank (Armenia) CJSC became a participant in the international financial group VTB in April 2004.  At present, VTB Bank, the second largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is traditionally one of the leaders of the banking system of the Republic of Armenia in terms of key indicators. The coverage of the branch network of VTB Bank (Armenia) has 67 branches with presence not only in the capital, but also in all regions of the country.