YEREVAN, April 20. /ARKA/. Ahead of the tourist season, VTB (Armenia) is strengthening its acquiring infrastructure, expanding its network and introducing digital payment solutions. This was reported by the bank’s press service.
This allows for faster and more convenient payment for purchases, including online. The bank’s POS terminal network covers key tourist attractions, ensuring fast and convenient payments.
Amid the growing number of visitors from Russia, VTB (Armenia) is expanding its cashless payment options, making transactions in the country more convenient. The bank remains the only bank in the local market to accept MIR payment system cards. This allows tourists to pay for goods and services at hotels, restaurants, stores, medical facilities, and service points without using cash. In addition, all bank branches have installed POS terminals, allowing MIR cardholders to withdraw cash at a more favorable rate.
The development of the tourism industry remains a key driver of Armenia’s economic growth. Last year, the country welcomed over 2 million tourists, over 40% of whom were Russian citizens. Overall tourist traffic grew by 2.5%, underscoring the continued interest in Armenia as a travel destination.
The expansion of the bank’s cashless payment infrastructure improves the quality of service for visitors and supports the further development of the tourism industry. The bank’s POS terminal network continues to grow rapidly: over the past year, their number has increased by 76%, particularly in the retail, restaurant, and hotel segments. Online acquiring is also developing: the number of connected solutions has grown by 117%, reflecting the growing demand for online payments.
“The growth of tourism directly impacts the requirements for payment infrastructure: it is important for businesses to accept payment methods that customers are accustomed to.” “We are developing acquiring as a tool that helps us effectively serve a growing customer base,” commented Yevgeny Motovilov, Deputy CEO and Chairman of the Management Board of VTB (Armenia).
According to him, acquiring helps businesses increase sales, which has a positive impact on both customers and the Armenian economy.
“Our plans for 2026 include launching new acquiring products tailored to our customers, developing integrations, and further optimizing tariffs,” noted Motovilov.
At this stage, special attention is being paid to developing online acquiring. The bank is implementing solutions for online businesses, including payments via website payment forms (V-POS) and payments via a link (E-com). This allows entrepreneurs to expand their sales channels and simplify the acceptance of payments from customers. These solutions allow users to prepay for services, including hotel reservations, using MIR cards, making travel planning more convenient.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia.
