Electronic Payments Grow By 39.74% In Armenia In First Quarter Of 20

[Jagharian Tania]

ELECTRONIC PAYMENTS GROW BY 39.74% IN ARMENIA IN FIRST QUARTER OF 2007 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
May 23 2007

YEREVAN, MAY 23, NOYAN TAPAN. Most of electronic payments through
the payment systems of the Central Bank of Armenia (CBA) in the first
quarter of 2007 was made through the electronic payment system.

According to CBA data, electronic payments of the system's participants
made up 63.10% of the total amount of payments and 95.3% of their
number. The amount of electronic payments increased by 39.74%
(564 bln drams or about 1 bln 568 mln USD), their number - by 15.86%
(40,670 payments) on the same period of last year. Transfers related
to stock exchange operations amounted to 27 bln drams. Payments made
by commercial banks through the electronic payment system (without
stock exchange related operations) made up about 40% (increase of 55
bln drams) of all payments, their number - about 99%.

The average daily number of monetary transfers through the electronic
payment system grew by 635 payments as compared with the first quarter
of 2006 and made 4,006 transfers, while their amount grew by 8 bln
817 mln drams to 22 bln 185 mln drams. The average daily amount
of transfers related to stock exchange operations made 6 bln 549
mln drams. The average amount of an electronic transfer through the
electronic payment system, without transfers related to stock exchange
operations, grew by about 1.7 mln drams to 3.9 mln drams. The average
amount of stock exchange related transfers by commercial banks through
the electronic payment system made 201 mln drams.