YEREVAN, November 18. /ARKA/. The international payment system Mastercard is changing the rules of the game worldwide. David Zgudadze, Vice President and Regional Director of Mastercard for Georgia and Armenia, spoke with ARKA news agency about the company’s plans to promote biometrics and digital security in Armenia and the bonuses available for Armenian Mastercard holders in the coming years.
What new infrastructure, partnership, and technology projects is Mastercard planning in Armenia in the next 1-2 years?
We are primarily focused on developing new products together with Armenian Card. Over the next few years, we will likely introduce new technologies related to biometrics that reduce risks in transactions and purchases not only in physical spaces but also in e-commerce.
Over the next five years, we will strive to completely remove card data from the system. This way, when making purchases, people won’t have to worry about their data being used for fraudulent purposes. These are our main plans for Armenia.
We already have an employee here. Going forward, we intend to expand our local resources to carry out more projects in Armenia and provide greater support to the financial sector.
— You previously said that Mastercard is changing the “rules of the game.” What do you mean?
— We understand that every country has its own dynamics, and it’s better to cooperate than to compete. Then we can focus on creating additional value, rather than thinking that everything depends on us alone and there are no alternatives.
— Are there any statistics on the number of Mastercard cardholders in Armenia? What market share do they hold among all payment systems?
— Currently, we have 25% of the market in Armenia.
— Are there any plans for new collaborations with Armenian banks, or the introduction of new loyalty and bonus programs?
— Yes, of course. We want to support tourist flows as much as possible, as we see great potential in this. We’ve launched a pilot project in Georgia and want to implement a similar project in Armenia. The idea is to provide tourists visiting Armenia with benefits when paying with a Mastercard. The same is intended for Armenian Mastercard holders, so they can receive discounts when traveling internationally. The first step is to cover purchases made in Georgia using Armenian MasterCards. We’ve created a page where people can view discounts at hotels, restaurants, and so on.
We’re primarily focused on this right now, but more broadly, we understand that as a global company, we can allow customers to enjoy not only local but also global benefits. Local initiatives are usually associated with a specific bank that understands its customer base better, whereas we can create value internationally.
— Does Mastercard plan to introduce new innovations and technologies in Armenia?
— Yes, of course. There are two main points. First, the legislative framework: if a country’s regulations allow for the implementation of new technologies, we first assess their legality. Second, the openness of the market: is it ready for the implementation of this technology? If both conditions are met, we quickly launch the innovation—as we did, for example, with Apple Pay and Google Pay. As soon as it became clear that the technology could be implemented without restrictions, we did so immediately.
— What are the specifics of the Armenian market for MasterCard?
— The Armenian market, in my opinion, is very competitive. There are many financial institutions actively developing here, and competition will only intensify. This is, in fact, a positive development. Competition encourages companies to create more value for customers and implement new technological solutions. In this context, we can also bring something new to the market—something that will be useful, valuable, and accessible to Armenian cardholders.
