YEREVAN, December 25. /ARKA/. At a meeting on Thursday, the Armenian government approved measures and procedures for providing cashback on non-cash payments made by individuals through the Armenian Card (ArCa) national payment system.
According to RA Finance Minister Vahe Hovhannisyan, the project provides for a 2% cashback on non-cash payments (for goods and services) made with ArCa cards.
“This initiative is primarily aimed at stimulating non-cash transactions in Armenia and increasing consumer awareness of modern financial instruments and technologies,” Hovhannisyan noted.
According to him, the project will be implemented in a pilot mode from January 1 until the end of 2026.
The minister added that cashback will be transferred to consumers automatically on a monthly basis until the 25th of the following month. “The cashback will apply to transactions worth 1,000 drams or more, and will amount to no more than 6,000 drams per transaction, with a total monthly amount of no more than 60,000 drams. Fifty percent of the cashback amount will be paid from the state budget, and the remaining 50% through the ArCa payment system,” Hovhannisyan said. ($1 = 381.46 drams).-0-
