ArmInfo. ACBA Bank and Ameriabank, on the basis of the public offer of the Central Bank and discussions between the banks, undertook and made relevant large-scale investments for the beneficiaries in the activation of systems for accepting non-cash payments on cash registers. This is noted in the message of the Central Bank, which informs about the entry into force of the RA law "On non-cash payments" from July 1 of this year.
So, from July 1, 2022, transactions exceeding 300 thousand drams will have to be carried out on the territory of the republic in a non-cash manner. In addition, for certain transactions, such as scholarships, public procurement, payment for medical, educational, notary, lawyer, including consulting services, the requirement to make them completely non-cash comes into force. Wages and loans provided by banks and credit companies will be non-cash. Repayment of loans and insurance indemnities will also be carried out in a non-cash manner. The Central Bank informs that those wishing to use this service can apply to the abovementioned banks. At the same time, those taxpayers who have not had such an opportunity until today can also use this system at extremely low rates. The taxpayers will receive the corresponding notification about the specified information through the "Taxpayer-3" information platform of the State Revenue Committee of the Republic of Armenia. Moreover, after receiving a notification and informing about the servicing bank, the bank takes over the execution of work on activating the program on the cash registers. The message emphasizes that, in accordance with the 9th part of the 4th article of the abovementioned law, the Central Bank, by its regulatory legal acts, can set the maximum and minimum limits for commissions on non-cash transactions, as well as cases, procedures and conditions for their collection. In this regard, the Central Bank will regularly analyze the limits of commission fees charged by Armenian banks and carry out work to optimize them. At the same time, the Central Bank notes that in parallel with the increase in non-cash payments in circulation, further downward revisions of tariffs are expected.
