211637 ARCA-HOLDERS RECORDED IN ARMENIA

ARKA News Agency
Dec 11 2007
Armenia

YEREVAN, December 11. /ARKA/. Shahen Hovhannisyan, executive director
of Armenian Card (ArCa) payment system, said Tuesday in an interview
with ARKA News Agency that 211637 ArCa-holders were recorded in
Armenia by November 1, 2007 against 11400 earlier this year.

He said Armenian banks have issued more than 116628 plastic cards
of all types, including re-issued cards, over the year. Hovhannisyan
said that card emission intensification started yet in July.

In particular, 8133 plastic cards were issued in July (of them,
4983 new), while in August their number reached 11795 (7634 new),
in September 14408 (10314) and in October 17334 (12425).

Hovhannisyan also said that ArCa planned to issue 70000 cards in 2007,
but the first none months’ result shows that higher-than-expected
result will be placed on 2007 record.

"In making forecast for a year, we mention a little pessimistic results
leaving room for correcting annual budget revenue and expenditure",
he said.

2.4mln transactions have been carried out on all types of ArCa plastic
cards over the period between January and October 2007.

Armenian Card CJSC was established on March 16, 2000 with Central
Bank’s and Armenian commercial banks’ participation. Armenian Card
has created local payment system under USAID assistance.

Now Armenian Card member banks issue ArCa Debit, ArCa Classic,
ArCa Gold, ArCa Business, ArCa Affinity, ArCa Co-branded and ArCa
Platinum cards.

Armenian Card is a full-fledged member of MasterCard Europay
international system and provides processing services for VISA (Third
Party Processor) system.

Today 20 of 21 Armenian banks are Armenian Card members. All banks,
but ArmSwissbank, provide plastic card services.