THE CENTRAL BANK OF ARMENIA AND UNDP JOIN EFFORTS TO DEVELOP
ArmenPress
June 7 2004
YEREVAN, JUNE 7, ARMENPRESS: The Central Bank of Armenia (CBA) and
the United Nations Development Programme (UNDP) launched the first
e-payment system in Armenia. Mr. Tigran Sargsyan, Chairman of the
CBA and Ms. Lise Grande, UN Resident Coordinator and UNDP Resident
Representative, presented the initiative to the mass media and the
first online payment was made by plastic card.
The e-payment system is a joint initiative of the Armenian Card
(ArCa) Unified Payment System and UNDP. Through the system, online
payments for public utilities, including telephone, electricity, gas,
and water can be made using ArCa cards. The system can also be used to
buy top-ups for the ArmenTel mobile prepaid system and Arminco Internet
services. Plans are also underway to expand the system to allow ArCa
cardholders to shop online and benefit from other paid services.
The online payment system is based on the highest standards of
transaction security and user convenience. The long-term goal of the
system is to expand Armenia’s infrastructure for non-cash transactions
and create a reliable and user-friendly environment for e-Commerce.
In her comments, Ms. Lise Grande, UN Resident Coordinator and UNDP
Resident Representative, noted: “It’s important to see this online
payment system as an important step in developing an information
society in Armenia. Modern Information and Communication Technologies
are essential for creating a modern economy in Armenia and ensuring
equal access to information for all citizens.”
Mr. Tigran Sargsyan, Chairman of the Central Bank of Armenia,
reiterated the “significance of the e-payment system for the further
development of the banking system in Armenia, particularly the
establishment of e-banking.”
The Armenian Card was established by the CBA and ten commercial banks
in March 2000 with the aim of developing a new unified payment system
in Armenia. Today, 13 commercial banks are part of the ArCa system,
and more than 46,000 plastic cards of this type are in circulation.