PanArmenian News Network
July 25 2005

ARCA WORKING AT ONLINE TREASURY DEPOSITORY SYSTEM FOR SALE OF STATE
SECURITIES

25.07.2005 07:47

/PanARMENIAN.Net/ Unified Payment System Armenian Cards (UPS ArCa)
and UNDP are planning to introduce two more internet-based services:
online card-to-card transfers and online card account management. The
Ministry of Finance and Economy also plans to work with UNDP to
introduce an online treasury depository system for the sale of state
securities. As Gagik Khachatrian, head of the department for foreign
ties and business development told «.am» PanARMENIAN.Net reporter,
the online treasury depository system for the sale of state
securities will be launched in September, 2005. According to him, it
will be timely bargain, as some customer came to Yerevan from distant
parts of Armenia to purchase the securities. Besides there is an
agreement on creation of e-auction for the State Committee for the
Obligatory Fulfillment of juridical acts of the Justice Minister
carrying out permanent auctions of confiscated property. The system
will be installed till the end of the year. The purpose of the
auction is to make the conduction of the confiscated property sale
more transparent. In the near future the cardholders will also have
the opportunity to check their account, and carry out ordinary
procedures, which today are available only by visiting a bank. Via
website it will be easy to transfer financial flows from
one account to another. The operation of rather simple and will take
several minutes. `The system is actual, since it will contribute to
the increase of the number of cardholders’, Gagik Khachatrian noted.
To remind, earlier ArCa launched the first E-Commerce System for
online shopping in Armenia. The goal of the E-Commerce System is to
increase the volume of purchases with plastic cards. The new service
will help companies, organisations, banks, ministries and businesses
to sell goods and services online in a convenient, fast and efficient
manner. The System, which builds on the E-Payment System launched
earlier this year by the CBA, UNDP and ArCa, has been designed in
conformity with internationally accepted standards for secure and
convenient transactions. Presently 100 thousand people are ArCa
cardholders. 20% of them use E-Commerce system. It is interesting
that men more often make e-bargains. During 7 months of 2005 they
have performed operations to the sum of 37.2 million AMD. Bargains
totaling in 4.6 million AMD were made by women. The age category
varies form 23 up to 35. The total sum made 41.8 million AMD.