Areximbank-Gazprombank Group issues VISA chip cards

Banks

YEREVAN, October 16. /ARKA/. Areximbank-Gazprombank group launched issuing VISA payment cards with a chip module, the bank told ARKA on Tuesday.

A micro-processing unit is installed into the card with a chip module. Due to this, such cards have more functional opportunities than magnetic stripe ones. Holders of cards with a chip module can keep more data on their cards, which are also really safe.

“Since September 2012 the bank has launched issuing MasterCard cards with chips, and now it’s time for VISA cards. Card issue is conducted within the current tariffs and conditions, without additional fees,” according to the source.

Areximbank-Gazprombank Group issued 5, 328 cards in the third quarter of 2012: of them 4, 524 are VISA cards, 451- MasterCard, and 353-ArCA. As of October 1, there are 70 ATMs and 296 POS-terminals in Armenia.

Areximbank – Gazprombank Group is a member of VISA International and MasterCard International payment systems as well as ArCa local payment system.

The portfolio of time deposits rose by 6.9% to almost 23,7 billion drams in the first half of 2012 from a year earlier. Time deposits of individuals increased by 21.3% to 18.4 billion drams, which is 77.6% of the total time deposits. —0–

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