Service of Armenian ArCa cards in Russia and of Russian MIR cards in  Armenia to be suspended 

ArmInfo. The link between the national card systems of Armenia and Russia - ArCa and MIR - will be suspended from March 30. 

As the National Payment System (NPS) Armenian Card told ArmInfo, the  armenian banks has decided to temporarily suspend the acquiring of ArCa  cards issued by Armenian banks on the territory of the Russian  Federation and, on the contrary, the acquiring of NSPK cards on  the territory of Armenia.

In Armenia, only MIR cards issued by VTB Bank (Armenia) will be  serviced and exclusively in the ATM and POS network of this bank. To  date, the bank has issued over 188 thousand MIR cards, including  pension cards. The bank's service infrastructure includes 201 ATMs  and 54 POS terminals. The bank's branch network consists of 53  branches.

As reported on the official website of VTB Bank (Armenia), the lack  of interconnection of the national systems of Armenia and Russia will  not in any way affect the operation of VTB (Armenia) cards. cards in its infrastructure in full.  Holders of cards of VTB Group banks and any other Russian banks  still have access to key services: cash withdrawals from VTB ATMs  (Armenia), payment for services in the Mobile banking application,  through remote service channels Video Bank and Telephone Bank?  Transfers are available using VTB (Armenia) cards, including  cross-border ones. Depending on the country, transfers can be made  using a phone number or card, using bank details, or in cash. You can  make non-cash payments at retail outlets and withdraw cash through  ATMs in Russia.

At the same time, as of March 30, VTB (Armenia) will complete  participation in the state program to pay cashback to pensioners for  non-cash payments. The remuneration for March 2024 will be credited  to the recipient's existing account at VTB (Armenia) before April 25.

Market participants expected a similar situation after the US adopted  the 13th package of sanctions restrictions in February, which also  included the Russian NSPK . According to market analysts, in  connection with the above decision, an ambiguous situation will arise  in the payment market of Armenia.  Apparently, part of the funds from  VTB (Armenia) cards will be transferred to NPS Armenian Card cards,  however, in parallel, some relocants working in Armenia will prefer  to open additional card accounts with VTB (Armenia) to transfer funds  to and from Russia. Armenian banks will also suffer some losses; the  situation will also affect the restriction of financial flows of  small export-import firms, as well as the volume of private  transfers.