Armenian Card  launches ArcaQR system - payments through  QR codes  directly from  bank account

ArmInfo.Armenian Card CJSC has lunched the ArcaQR system -  a unified QR payment system  enabling  instant payments from bank accounts with a single scan, as noted in a statement issued by Armenian Card. It is  stated that the  official launch of the ArcaQR system took place on September 30,  2020, with Ardshinbank, Ameriabank, Converse Bank, Araratbank,  Evocabank, and Armeconombank immediately announced that they are  joining the system.

 Vardan Khachatryan, Executive Director of Armenian Card CJSC,  stated: "ArcaQR is another step toward fostering a cashless payment  culture in Armenia. We are confident that QR code payments will  become part of everyday life, offering consumers convenience,  businesses an easy  and accessible payment methods, and partner banks  a way to increase mobile app usage."

Mihran Muradyan, Ardshinbank Management Board Member and Director of  Small and Medium Business Development, added: " "The creation of the  ArcaQR system is a significant step in ensuring the continuity,  security, and reliability of payment infrastructures. Ardshinbank  highly values the launch of ArcaQR and is pleased to be part of the  system, offering alternative and secure payment options to promote  cashless culture, meet customers' daily banking needs, and enhance  their overall experience and service quality."

Arman Barseghyan Retail Banking Director Ameriabank's d noted: " We  are pleased to join the ArcaQR initiative, which marks an important  step not only toward improving customer service but also ensuring  balanced and sustainable growth across the entire system. Ameriabank  consistently implements innovative solutions that promote cashless  payments and enhance convenience for customers. We believe that a  unified QR payment system will further expand digital payment  adoption and improve customer experience." 

Aram Baloyan, Director of Retail Business at Converse Bank, noted: "  "Converse Bank prioritizes the development of bank account services  and the Converse Mobile app as core digital channels. From this  perspective, expanding and advancing payment tools and  infrastructures in the market, as well as developing 24/7 services  around national payment systems, is of great importance. We are proud  to be among the first to join the new ArcaQR system and remain  committed to broadening our digital services with alternative payment  tools." 

Tatevik Khachatryan, Deputy Chairperson of the Management Board of  Evocabank, noted: "For Evocabank, as a digital bank, connecting to  the ArcaQR system is crucial, as developing the payments sector is  one of our strategic priorities. We are confident that using ArcaQR  will make payments more convenient, faster, and more secure."

Mher Ananyan, Chairman of the Management Board and Executive Director  of  Ararat Bank emphasized that the addition of the ArcaQR payment  instrument is a major achievement for the entire system. He said, "  The more accessible Armenian Card's national payment tools become to  customers, the stronger the system's stability and trust. We are  pleased that AraratBank is part of this initiative, supporting its  implementation and growth." 

Armeconombank Deputy  CEO  Vahe Ghazaryan commented  "For  Armeconombank, joining the ArcaQR system is an important step toward  offering simpler, more convenient, and modern payment solutions.   Innovation lies at the heart of our strategy - not only improving  customer experience but also promoting a cashless payment culture. We  believe ArcaQR will ensure speed, comfort, and security for our  clients' digital transactions."

Recall that shortly before the launch of the ArcaQR system, the  Armenian Card national payment system introduced a new innovative  product, ArCa Pay, in November 2024. This is an efficient, secure,  and convenient platform for instant transfers between clients of  Armenian banks and payment organizations.  Ameriabank, Evocabank,  Converse Bank, and AMIO Bank immediately joined the system. The  immediate plans include connecting virtually all banks and payment  organizations in Armenia to this system.