Thursday, June 23 2022 16:09
Naira Badalian

Different prices for same product or service can not be set,  depending on method of payment, cash or non-cash -CBA  message 

Different prices for same product or service can not be set,  depending on method of payment, cash or non-cash -CBA  message 

ArmInfo. A non-cash payment method cannot lead to an increase in the cost of goods or services. Business entities do not have the right to discriminate against persons paying  by bank transfer. chairman of the Central Bank of Armenia Martin  Gastyan stated this on June 23 at a government meeting, answering the  question of tPrime Minister of the Republic of Armenia Nikol  Pashinyan, whether Armenia is ready to switch to non-cash  transactions, exceeding 300 thousand drams from July 1.

According to the head of the Central Bank, as a result of an  agreement with the government, at this stage, payment through payment  terminals, if transferred immediately to the company's account, is  also considered a non-cash transaction. For example, from July 1,  payment for all types of medical services provided in medical  institutions can be made on the spot in cash through a payment  terminal, and the money will be transferred to the bank account of a  medical institution. <At this stage, the state also recognizes such  operations as non-cash transactions. In the future, if we see that  opportunities are expanding, people are already accustomed to  non-cash, card payments, we will reconsider this issue," Galstyan  said.

Touching upon POS-terminals, and problems with increasing the  functionality of POS-terminals at cash registers, the head of the  Central Bank noted that "by and large, the issue has been resolved."  <At this stage, banks have assumed the costs of obtaining licenses  and activating cash registers. We have reached an agreement with  banks to minimize the burden on the business of paying for the  maintenance of such devices. For example, if in rural areas the  volume of trade is insignificant, an economic entity will pay the  bank only 1,000 drams per month for servicing the terminal, in  Yerevan, of course, it will be higher>, Galstyan said.

The problem is that there are approximately 50,000 cash registers on  which you need to install the appropriate pos-module. The process  will be carried out as quickly as possible, he assured. Taxpayers  will have to apply to commercial banks, purchase a new device with a  built-in pos, or install a pos module on their cash registers.

As the head of the Regulator pointed out, in all settlements of the  country there should be at least one store, one payment terminal  where you can make non-cash purchases. This is necessary so that  pensioners and people receiving benefits, when paying with a bank  card, can use the 10% cashback, which also comes into force from July  1. By today's decision, the government also provided this group of  the population with the opportunity to pay utility bills not only  through ATMs, but also through the electronic (mobile banking)  application of the bank.

POST A COMMENT
Input digits     


News
EIB Global and Ardshinbank launch €100 million partnership to boost business growth and job creation in ArmeniaEIB Global and Ardshinbank launch €100 million partnership to boost business growth and job creation in Armenia
Armenia collected 2, 441.9bn drams in taxes by December 2025,  compared to planned 2, 720.3bn drams for the yearArmenia collected 2, 441.9bn drams in taxes by December 2025,  compared to planned 2, 720.3bn drams for the year
Armenia the sixth  largest exporter of fish to the Russian marketArmenia the sixth  largest exporter of fish to the Russian market
Pashinyan visits Atom Museum in Moscow to learn about achievements in  nuclear energyPashinyan visits Atom Museum in Moscow to learn about achievements in  nuclear energy
Ameriabank acts as Underwriter- Intelligent Management Holding to  launch debut bond placement on December 15Ameriabank acts as Underwriter- Intelligent Management Holding to  launch debut bond placement on December 15
Armenia`s Nuclear Power Plant is the best nuclear project of the  Soviet Union still operating- Rosatom headArmenia`s Nuclear Power Plant is the best nuclear project of the  Soviet Union still operating- Rosatom head
Armenian vice-premier confirms discussion of export of Azerbaijani  oil products to Armenia with Azerbaijani counterpartArmenian vice-premier confirms discussion of export of Azerbaijani  oil products to Armenia with Azerbaijani counterpart
Globbing launches its debut issue of AMD and USD registered coupon  bonds in ArmeniaGlobbing launches its debut issue of AMD and USD registered coupon  bonds in Armenia
How to Choose a Career Path and What Skills are Considered Crucial: AraratBank on the GoTeach PlatformHow to Choose a Career Path and What Skills are Considered Crucial: AraratBank on the GoTeach Platform
Armenian businesses to receive tax deductions for donations to  educationArmenian businesses to receive tax deductions for donations to  education
Armenia to be recognized as PPR-free zoneArmenia to be recognized as PPR-free zone
Pashinyan reaffirms Yerevan`s willingness for mutually beneficial  collaboration  with EAEU member statesPashinyan reaffirms Yerevan`s willingness for mutually beneficial  collaboration  with EAEU member states
EDB MMI: Armenia accounts for 10.2% of all FDI attracted in  Eurasian  regionEDB MMI: Armenia accounts for 10.2% of all FDI attracted in  Eurasian  region
Armenian government changing procedures for conducting electronic  auctions and alienating propertyArmenian government changing procedures for conducting electronic  auctions and alienating property
More attention to be paid to solar power development  in Armenia -  Prime MinisterMore attention to be paid to solar power development  in Armenia -  Prime Minister
Pashinyan: At this phase, no discussions to leave  EAEUPashinyan: At this phase, no discussions to leave  EAEU
International wine tasting competition Concours Mondial de Brussels  2026 to be held in ArmeniaInternational wine tasting competition Concours Mondial de Brussels  2026 to be held in Armenia
Armenia`s Cabinet extends ban on export of automotive catalytic  converters.Armenia`s Cabinet extends ban on export of automotive catalytic  converters.
EBRD to issue EUR 39mln loan to Armenia for construction of Yerevan  customs and logistic center EBRD to issue EUR 39mln loan to Armenia for construction of Yerevan  customs and logistic center 
WB to issue EUR 70.4mln to Armenia for improving water-supply and  irrigation servicesWB to issue EUR 70.4mln to Armenia for improving water-supply and  irrigation services
Hamburg Chamber of Commerce CEO, local businessmen interested in  opportunities available in various sectors of Armenia`s economyHamburg Chamber of Commerce CEO, local businessmen interested in  opportunities available in various sectors of Armenia`s economy
Former SRC Chairman: If country doesn`t replenish its population, any  economic indicator becomes meaninglessFormer SRC Chairman: If country doesn`t replenish its population, any  economic indicator becomes meaningless
Eurasian Economic Commission Board  approves list of statistical  indicatorsEurasian Economic Commission Board  approves list of statistical  indicators
The December beneficiary of “The Power of One Dram” initiative is the “City of Smile” FoundationThe December beneficiary of “The Power of One Dram” initiative is the “City of Smile” Foundation
EBRD lends US$ 40 million to Acba bank for youth-led firms in ArmeniaEBRD lends US$ 40 million to Acba bank for youth-led firms in Armenia
Current issues of Russian-Armenian business cooperation discussed in  YerevanCurrent issues of Russian-Armenian business cooperation discussed in  Yerevan
NA Speaker not ruling out the possibility of reciprocal transit of  Azerbaijani goods through ArmeniaNA Speaker not ruling out the possibility of reciprocal transit of  Azerbaijani goods through Armenia
Armenian government interested in consistent development of economic  ties with GermanyArmenian government interested in consistent development of economic  ties with Germany
RA, U.S. reps discuss current wheat production and supplies situationRA, U.S. reps discuss current wheat production and supplies situation
Armenia and Kuwait discussed economic cooperation opportunitiesArmenia and Kuwait discussed economic cooperation opportunities
American technology company AMD  interested in new opportunities for  cooperation with ArmeniaAmerican technology company AMD  interested in new opportunities for  cooperation with Armenia
Ameriabank to arrange public offering of Alfa-Pharm CJSC`s nominal  coupon paying bondsAmeriabank to arrange public offering of Alfa-Pharm CJSC`s nominal coupon paying bonds
Germany, EU launch new water management program in Armenia -  EU4Sevan+Germany, EU launch new water management program in Armenia -  EU4Sevan+
Armenia sees effective solution to regional water issues in  complementarity and long-term strategic cooperationArmenia sees effective solution to regional water issues in  complementarity and long-term strategic cooperation
FLYONE ARMENIA launches Yerevan-Alecante-Yerevan flightsFLYONE ARMENIA launches Yerevan-Alecante-Yerevan flights
Major renovation of road leading to `Korean Gorge` completed -  ministryMajor renovation of road leading to `Korean Gorge` completed -  ministry
 Technical Commission on Tourism Cooperation between Armenia and Iran  meets in Yerevan Technical Commission on Tourism Cooperation between Armenia and Iran  meets in Yerevan
IDBank participated in the conference dedicated to the 10th anniversary of the Armenian Institute of DirectorsIDBank participated in the conference dedicated to the 10th anniversary of the Armenian Institute of Directors
Armenian SRC head discussed implementation of US assistance programs  to reduce customs risks with his American partnersArmenian SRC head discussed implementation of US assistance programs  to reduce customs risks with his American partners
PM Kobakhidze orders one-time free rail transport of Azerbaijani fuel  to ArmeniaPM Kobakhidze orders one-time free rail transport of Azerbaijani fuel  to Armenia
Armenia welcomed 2.12 million tourists  in January-NovemberArmenia welcomed 2.12 million tourists  in January-November
 Armenia, Moldova  to expand cooperation in winemaking Armenia, Moldova  to expand cooperation in winemaking
Armenian company `Metalstroy` joins cooperation project within  framework of EAEU industrial cooperation financing mechanismArmenian company `Metalstroy` joins cooperation project within  framework of EAEU industrial cooperation financing mechanism
Global Finance names AraratBank Best Sub-Custodian Bank 2025 in ArmeniaGlobal Finance names AraratBank Best Sub-Custodian Bank 2025 in Armenia
EBD forecasts further consumer price rise near CB-set target this  year EBD forecasts further consumer price rise near CB-set target this  year 
Ex-official on real state of Armenia`s economyEx-official on real state of Armenia`s economy
Vahagn Khachaturyan, insurance company representatives discuss  process  of implementing universal health insurance Vahagn Khachaturyan, insurance company representatives discuss  process  of implementing universal health insurance 
26,768 babies born in Armenia in  first 10 months26,768 babies born in Armenia in  first 10 months
Armenia`s service sector revenue reached $8.6 billionArmenia`s service sector revenue reached $8.6 billion
In  Armenia`s interbank foreign exchange market from December 1 to 5,  2025, dollar transactions decreased, while  ruble transactions  increasedIn  Armenia`s interbank foreign exchange market from December 1 to 5,  2025, dollar transactions decreased, while  ruble transactions  increased
Armenia`s trade sector growth rate decliningArmenia`s trade sector growth rate declining
Cargo transportation in Armenia increased by 2% in January-October,  while passenger transportation decreased by 2.3%Cargo transportation in Armenia increased by 2% in January-October,  while passenger transportation decreased by 2.3%
Armenia`s communications sector grew by 2.3% in 10 monthsArmenia`s communications sector grew by 2.3% in 10 months
AraratBank Participates in “Women’s Empowerment Principles in Armenia” ConferenceAraratBank Participates in “Women’s Empowerment Principles in Armenia” Conference
In Armenia, economic activity growth in January-October 2025 remained  steady at 8.1%, while foreign trade continued to declineIn Armenia, economic activity growth in January-October 2025 remained  steady at 8.1%, while foreign trade continued to decline
Wine and cognac production in Armenia declining at  double-digit rateWine and cognac production in Armenia declining at  double-digit rate
Power generation in Armenia increased by 7.9% in 10 monthsPower generation in Armenia increased by 7.9% in 10 months
Armenia`s metallurgy industry declined over 10-months Armenia`s metallurgy industry declined over 10-months 
Annual inflation in Armenia continues to accelerate, not exceeding  targetsAnnual inflation in Armenia continues to accelerate, not exceeding  targets
Armenia`s industrial sector declined by 3% in 10 monthsArmenia`s industrial sector declined by 3% in 10 months
Read more
Exchange rates
12.12.2025
RUB4.78-0.04
USD381.77-0.07
EUR447.700.68
GBP510.66-0.17
CAD277.490.89
JPY24.48-0.02
CNY54.120.02
CHF479.970.93