Ministry of Finance has identified cases in which the 2% cashback will not be awarded for payments made with ArCa cards

YEREVAN, January 9. /ARKA/. The Armenian Ministry of Finance has clarified which non-cash transactions made with ArCa payment system cards will not be eligible for cashback.

Starting January 1, Armenia introduced a 2% cashback system for non-cash payments made with ArCa payment system cards. Cashback is transferred to beneficiaries automatically until the 25th of the following month for transactions over 1,000 drams, with a maximum cashback of 6,000 drams per transaction and 60,000 drams per month. As the department reported on its Facebook page, citizens will not receive a 2% cashback when making a non-cash transaction with an ArCa card if the payment was made:

for utilities, information, and communication services

in favor of the state or community budget

at high-risk points of sale (for example, gambling houses)

for services offered by financial institutions

with ArCa gift cards or one-time use cards

or if the transaction involved a refund, compensation, or chargeback.

On December 25, 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. This initiative is primarily aimed at encouraging non-cash transactions in Armenia and increasing consumer awareness of modern financial instruments and technologies. The project will be implemented in pilot mode until the end of 2026.

spot_img

POPULAR

Regular disclosure of information by issuers is one of key conditions for development of Armenian capital market – Ministry of Economy

Capital market development in Armenia is increasingly dependent not only on the growth in the number of issues and the expansion of instruments, but also on the quality of the environment in which investors make decisions.

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (March 23–29)

The week in the Armenian financial market was marked by a combination of fiscal clarifications, regulatory changes, and institutional decisions.

Armenia to Receive $200 Million from the World Bank to Develop a Sustainable and Competitive Economy

Armenia will receive $200 million (€170.3 million) from the World Bank to support its transition to a more competitive, globally integrated economy with responsible emissions management.

Acba Group invested $45 million in the creation of an AI factory

To spur the development of artificial intelligence infrastructure in Armenia, Acba Bank and Amundi-Acba Asset Management have invested a total of $45 million in Firebird to establish an AI factory and data center.

How Idram and IDBank promote equal opportunities for women and men

Women’s Month is another opportunity to speak about the role of women in society and business, attitudes toward them, leadership, and equal opportunities for every member of society.

LATEST NEWS

spot_imgspot_imgspot_img