YEREVAN, September 24. /ARKA/. To stimulate non-cash payments in Armenia, and in view of the growing demand for Internet purchases, VTB Bank (Armenia) has launched an online acquiring service designed for private entrepreneurs, legal entities and individuals, the press service of the bank reported.
It said the new service enables Armenian entrepreneurs to carry out electronic commerce not only in Armenia, but also abroad, stimulating distribution of Armenian products around the world.
In addition to saving time for customers and being a comfortable way of making purchases, Internet acquiring service has a string of advantages. More precisely, it provides the possibility of using local and international cards – ArCa, VISA and MasterCard for electronic payments, while for electronic payments on the Internet there is the 3D security system that excludes fraud for both cardholders and Internet shop owners.
The service provides also a simple and fast process of cancellation of transactions, an individual approach to each company, the ability to accept electronic payments online through both sites and mobile applications.
The use of Internet acquiring will allow shop owners to increase profits by attracting new customers – holders of bank cards preferring to pay for goods and services via the Internet; increase sales, giving customers the opportunity to purchase goods by paying for it with a bank card (Impulsive Purchase); expand the geography of coverage of the target audience – payment can be made from anywhere in the world; reduce the costs of the cash processing: the company’s costs for conducting transactions on the Internet are lower than the costs of renting premises, store staff salaries and cash collection.
Customers of stores will enjoy the convenience of making purchases at any time from any place where the Internet is available, and also will be able to make purchases of the goods or services they like in a matter of minutes.
According to statistics, when choosing a store, the preference is given to those with which it is easier to make settlements. It is statistically recorded that any acquiring increases the total amount of purchases, sometimes by a third, especially if several inexpensive or related products are purchased.
VTB Bank (Armenia) CJSC became a participant of the international financial group VTB in April 2004. Currently, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). The bank runs 67 branches in Armenia. -0-
