ArmInfo. In Armenia, in 2018, the share of non-cash card transactions in quantitative terms rose to 37% from 30% in 2017, while the share of cash decreased to 63% from 70% in 2017.The Executive Director of the Union of Banks of Armenia (UBA) reported this.Seyran Sargsyan.
Speaking about the volume of transactions, which amounted to 1.9 trillion drams in 2018 for more than 2 million cards, S. Sargsyan noted that the share of non-cash transactions was 20%, while the dominant 80% were cash transactions. .
According to the Central Bank of Armenia, in Armenia the number of plastic cards increased by 201% in 2018 to 2.024 million units, against a growth of 9.2% in 2017. The annual growth of the total volume of plastic transactions to 22.6% in 2018 from 11.8% in 2017 to 1.933 trillion drams has accelerated adequately.Over the past seven years, the share of non-cash transactions in the total volume of plastic transactions increased from 7.3% to 20.5%, reaching 396 billion drams by the end of 2018, which is due to a significant increase in online trading and effective measures taken by banks to encourage non-cash transactions. The annual growth of non-cash plastic transactions, after a slowdown in growth in 2017 from 32.3% to 23.1%, in 2018 accelerated sharply to 47.2%.
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