YEREVAN, June 28. /ARKA/. Idram Company, together with Prometey Bank and MasterCard International payment system, presented Master Standard, a new plastic card for encashment of virtual money in Idran system, on Thursday in Yerevan.

Idram, the operator of the payment system established on May 8, 2008, got a license from the central bank for operating money transfers on December 29, 2009 and permission for issuing electronic money on March 6, 2012. .

Idram Director Gayane Stepanyan told journalists that the company’s clients can get Master Standard Card for free. This card allows them to pay their bills and cash their virtual money in a few seconds.

Stepanyan said that the company has already received a great number of applications for Master Standard.

“Our clients will get a unique opportunity to pay their bills by using one card and use it also for encashment of electronic money,” she said.

Karen Yeghiazaryan, deputy chairman of Prometey Bank, on his side, said that Master Standard holders will have accounts opened in the bank. They will not pay for servicing their accounts or cards.

“Master Standard card is accepted all over the world by all the stores and ATMs supporting MasterCard International System,” he said.

Gevorg Poghosyan, assistant to the Idram director, said now Idram system has some 50,000 registered users, of which 5,000 are active.

He said the Idram electronic money turnover grew 110% in 2011 alone.

To use electronic money one has to register in the system and store electronic scores, each of which is an equivalent of one dram. Idram scores can be obtained through subsidiaries, POS-terminals, bank branches, as well as through Visa, ArCa and MasterCard.

The system provides seven-level protection, and access to it can be performed without using special programs either from a phone or computer. To use this system, users must not necessarily have a bank account, as is the case with the largest electronic payment system Paypal in the USA.

Idram electronic money can be converted to electronic money of other foreign systems. Idram’s main activity is to boost Internet-based payment services. -0-