A universal cashback system for cashless payments is planned to be introduced in Armenia – Prime Minister

YEREVAN, October 27. /ARКА/. The Armenian authorities are considering introducing a universal cashback system for citizens on cashless payments, announced Prime Minister Nikol Pashinyan.

“That is, all citizens will receive a certain percentage of their purchases – about 2% – when making cashless purchases,” Pashinyan said during parliamentary discussions of the 2026 draft state budget.

He added that the cashback system for non-cash purchases and utility bills for pensioners (and benefit recipients – ed.) will continue. According to him, in 2026, the cashback amount will reach 20%, up from the current 12%.

The cashback program for pensioners and benefit recipients in Armenia has been in effect since July 1, 2022. Initially, they received a 10% cashback on their monthly spending (up to a maximum of 5,000 drams per month); later, the cashback increased to 12% (up to a maximum of 6,000 drams). The amount is paid out by the 25th of the following month.

On September 25, 2025, the Armenian government allocated nearly 3.22 billion drams to continue the cashback program for pensioners and benefit recipients until the end of the year. It was also announced that the program would continue into 2026. ($1 = 383.05 drams).

spot_img

POPULAR

Armenia Central Bank Governor: Open Banking Will Strengthen Clients’ Position with Financial Institutions

The implementation of the Open Banking model in Armenia is aimed at expanding consumer options in their dealings with financial institutions, Martin Galstyan, Chairman of the Central Bank of Armenia, told reporters on the sidelines of the "SME Sector: Impact and Development Challenges" conference.

Unibank provided cashback to more than 2 000 reliable SME borrowers

In the first quarter of 2026, Unibank’s SME loan portfolio increased by 28% compared to the same period last year.

Armenia Shows Significant Progress in Using More Complex Financial Instruments – EBRD

Armenia is demonstrating significant progress and growing readiness to use more complex financial instruments, said Elisabetta Falcetti, the bank's Executive Director for Turkey and the Caucasus, in an interview with ARKA news agency.

Ranking of Armenia’s Largest Credit Institutions by Total Capital in Q1 2026

ARKA News Agency publishes a ranking of Armenia's largest credit institutions by total capital for the first quarter of 2026.

Armenian Audit Firm Revenue Increased by 18% to AMD 16.2 Billion in 2025

At the end of 2025, the total revenue of audit firms (a combination of audit and other services) in Armenia amounted to approximately AMD 16.2 billion, representing an increase of approximately 18% compared to the previous year.

LATEST NEWS

spot_imgspot_imgspot_img