Central Bank of Armenia has set maximum fees for non-cash payments for a number of business entities

YEREVAN, February 12. /ARKA/. The Board of the Central Bank of Armenia has set maximum fees for certain business entities for non-cash payments, in particular, card payments made through physical POS terminals.

The regulator notes that following the adoption of the Law on Non-cash Transactions, amid a significant increase in non-cash payment volumes and increased competition in the market, fees for card payments for a number of categories of business entities have decreased over time.

However, analysis has shown that for certain groups, particularly for entities with a small sales turnover, the increase in non-cash payments has not led to a significant reduction in fees.

“In this regard, and taking into account Clause 9 of Article 4 of the Law on Non-Cash Transactions, it became necessary to create more favorable conditions through regulatory intervention, especially for servicing small businesses,” the Central Bank stated.

Therefore, in accordance with the decision of the Central Bank Council, maximum commissions for card payments through physical POS terminals have been established for businesses with an annual sales turnover of up to 150 million drams and for businesses that correspond to the codes of retail outlets:

  • for transactions with Armenian Card cards — no more than 0.5%;
  • for transactions with cards of the two largest international payment systems by turnover in Armenia — no more than 0.9%.

For businesses with a monthly turnover of POS terminal transactions no more than 50,000 drams, fixed maximum fees have been established depending on their location:

  • in Yerevan – up to 4,600 drams;
  • in regional cities – up to 3,000 drams;
  • in rural areas – up to 1,000 drams.

For small businesses, the maximum interbank fee for transactions through physical POS terminals has been set at 0.2%.

“The established maximum fees will be in effect from March 1 of each year until the end of February of the following year. During this period, the specified rates will also apply to newly established and eligible businesses,” the Central Bank stated.

The regulator emphasized the importance of ensuring the accessibility of payment infrastructure for small and retail businesses, assuring that it will continue to take steps to create a competitive, transparent, and inclusive payment environment in Armenia.

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