{"id":249366,"date":"2020-05-26T16:00:18","date_gmt":"2020-05-26T16:00:18","guid":{"rendered":"https:\/\/armbanks.am\/2020\/05\/26\/249366\/"},"modified":"2020-05-26T16:00:18","modified_gmt":"2020-05-26T16:00:18","slug":"cashless-transactions-in-armenia-grew-by-23-percent-in-first-quarter-to-592-billion-drams","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2020\/05\/26\/249366\/","title":{"rendered":"Cashless transactions in Armenia grew by 23 percent in first quarter to 592 billion drams"},"content":{"rendered":"\n

YEREVAN, May 26. \/ARKA\/. <\/strong>Cashless transactions made by using plastic cards increased by 22.9% in Armenia in the first quarter of 2020 to 592 billion drams, the Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference today.<\/p>\n\n\n\n

He said banking\ncards of almost all payment and settlement systems are serviced in Armenia – including\nthe national ArCa system,  Visa,\nMasterCard, American Express, Diners Club and Japanese JCB.<\/p>\n\n\n\n

According to him,\nthe number of active payment cards in the first quarter of 2020 stood at\n2,460,333, which is 2.9% or 70 thousand cards more than in 2019.<\/p>\n\n\n\n

He said payment\ncards were used in the first quarter to make 18,154,229 transactions, which is\n33.8% more than in the first quarter of 2019. <\/p>\n\n\n\n

“For the\nfirst time in Armenia, the number of non-cash transactions exceeded the number\nof cash transactions (57% to 43%), which is encouraging,’ he said.<\/p>\n\n\n\n

In the first\nquarter of 2020 the number of cash transactions made by using banking  cards amounted to 7,784,894, which is 2.4%\nmore  than in the first quarter of 2019,\nwhile the number of non-cash transactions increased  by 73.4% when compared to the first quarter\nof 2019 to 10,369, 335.<\/p>\n\n\n\n

As for the volume\nof transactions made by cards, according to him, cash transactions still\naccount for about 70% and only 30% are non-cash transactions.<\/p>\n\n\n\n

\u201cBut there are\ninteresting developments. The volume of cash transactions in the first quarter\nof 2020 amounted to 415.6 billion drams, which is by 13.3% more  than  in\nthe first quarter of 2019, while  the\nvolume of non-cash transactions surged by 53.4% to  176.9 billion drams,’ Sargsyan said.<\/p>\n\n\n\n

He noted also that\n43% of all transactions were made through ATMs, an increase of 13.3%, 24% through\nPOS terminals (an increase of 64.4%), and 33% through the Internet (an increase\nof 80.3%). In terms of volume – ATM transactions rose by 18.6%, Internet transactions\n– by 73% and POS-terminal transactions – by 22%.<\/p>\n\n\n\n

The average ATM transaction\nsize dropped a little to 51,000 drams, while the amount of transactions in outlets\nwas 20,498 drams.<\/p>\n\n\n\n

“This\nsuggests that customers began to use cards more often as a means of payment,\nincluding for small purchases, which led to a decrease in the average transaction\nvolume,” Sargsyan said.<\/p>\n\n\n\n

The number of ATMs\nin the first quarter of 2020 grew to 1,544, and the number of outlets that\naccept bank cards grew to 11,600 ($1 – 483.82 drams). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

Cashless transactions made by using plastic cards increased by 22.9% in Armenia in the first quarter of 2020 to 592 billion drams, the Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference today<\/p>\n","protected":false},"author":1,"featured_media":158196,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,15153],"class_list":{"0":"post-249366","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-armenia-2","10":"tag-cashless-transactions"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=249366"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/158196"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}