ARMENIAN CONVERSBANK JOINS INTERNATIONAL MASTERCARD PAYMENT SYSTEM

ARKA
Sep 30, 2009

YEREVAN, September 30, /ARKA/. Armenian Conversbank said it has joined
the international MasterCard payment system.

A press release by the bank said in 2-3 months it will start issuing
plastic cards Cirrus/Maestro, MasterCard Standard- MasterCard
Gold. These cards will be accepted by VATs, POS-terminals, located
at bank’s branches and at trade outlets.

"Holders of these cards will be able to carry out cashless purchases,
to pay utility fees, buy and sale via Internet as well as register
virtual cards at and reserve hotel rooms.

Conversbank was registered in 1993. Ninety-five percent of its shares
are owned by an Argentinean Armenian businessman Eduardo Eurnekian
and 5% by the Armenian Apostolic Church. The bank’s payroll has 550
people. It has 25 branches in 13 Armenian towns. Currently the bank
issues VISA (Electron, Classic, Business, Gold, GIFT, MINI) plastic
cards and ArCa Classic payment cards.