ArmInfo. Babken Tunyan, a member of the National Assembly of the Republic of Armenia from the ruling Civil Contract faction, denied rumors of a ban on cash payments starting March 1.
"No, there is nothing of the sort. Rumors that cash payments will be completely banned starting March 1 and that people will be required to pay with non-cash means, cards, or bank transfers, are untrue. I want to say that there is no such decision, and there are no plans for it. Everything will remain as is: for transactions up to 300,000 drams, a person can pay with both cash and non-cash means; for transactions over 300,000 drams, non-cash payments must be mandatory," the parliamentarian noted on his Facebook page.
Babken Tunyan recalled that the exception for commercial transactions applies to medical and educational services. Cashless payments for these services should be mandatory. "I don't know where these rumors are coming from, but there's nothing of the sort. Taking this opportunity, I'd like to point out one more important change: starting March 1st, we have another important change. For cashless transactions using bank cards, the commission for using them will be halved. In other words, when trading with ARCA cards, the commission will be only 0.5%, and for Mastercard and Visa cards, only 0.9%. I think this is very important and good news, especially for our small business owners. I'd also like to remind you that our compatriots can also receive a 2% cashback when trading with ARCA cards," the deputy noted.
