YEREVAN, July 27. /ARKA/. VTB Bank (Armenia) has become the winner in the category “The First Proximity Cards in Armenia” at the forum “Innovation Awards” organized by MasterCard international payment system, the press office of the bank reported on Friday.
In 2017, VTB Bank (Armenia) became the first bank at the country’s market to issue and service MasterCard PayPass proximity cards, thanks to which cashless payment can be made by just touching the card to the terminal with PayPass logotype in trade and service spots in Armenia and all over the world.
PayPass proximity payment technology is one of the most modern, fast, available and reliable methods for making card payments.
MasterCard PayPass proximity cards’ advantages are safety, comfort and speed.
In particular, to make a payment the cardholder should not give the card to the cashier – i.e. the cardholder fully controls the payment process, protecting the card data and warding off any fraud risk.
It is very easy to make shopping payments by using the proximity card – it is necessary to touch the card to a POS terminal that can read out proximity cards, and the payment will be done within just one second.
Purchases are paid instantly in one touch, and for transactions amounting to up to AMD 10,000 (around $20) no PIN code insertion is needed.
The partnership between VTB Bank (Armenia) and MasterCard international payment system has a seven year record. It is developing into more and more beneficial and effective cooperation from year to year.
A number of products, services and stocks have been launched to improve the servicing quality, comfort and benefit for clients.
VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia).
VTB Bank (Armenia) has 67 branches all over Armenia’s territory – the largest branch network in the country. VTB Bank (Armenia) is reckoned among leaders for general indicators. -0—
