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ArCa To Introduce American Express Payment Cards In Armenia

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  • ArCa To Introduce American Express Payment Cards In Armenia

    ARCA TO INTRODUCE AMERICAN EXPRESS PAYMENT CARDS IN ARMENIA

    ARKA
    Feb 3, 2010

    YEREVAN, February 3, /ARKA/. Armenian Card (ArCa) Armenian payment
    system said it will introduce this year American Express international
    payment system's cards.

    American Express is one of the three largest international card
    payment systems along with Visa and MasterCard, Armenian Card executive
    director Shahen Hovhanesian, told in an interview with ARKA.

    He said ArCa has received all necessary certificates and implemented
    several pilot transactions planing to start issuing these cards in
    the first half of 2010.

    He said the introduction of the new payment system is expected to
    increase the banks' turnover which will receive additional profits
    for servicing new cards, but declined to reveal the name of a bank
    that has received a license to service these new cards

    'This bank has developed an appropriate business plan and has been
    granted the exclusive contract to service American Express cards.

    Under the contract all other banks will be serviced through it,'
    he said.

    In 2009 ArmCard system -member banks issued 190,346 cards. Also last
    year 6.8 million transactions were executed by payment cards worth
    over 331 billion drams.

    Armenian Card was founded in 2000 and 20 of 22 Armenian commercial
    banks are its members, which issue now ArCa Classic, ArCa Gold, ArCa
    Business, ArCa Affinity, ArCa Co-branded, ArCa Debit E ArCa Platinum
    cards. It is also a full member of MasterCard Europe, implementing the
    processing of VISA cards (Third Party Processor). ($1 - 376.03 Drams).
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