YEREVAN, July 18. /ARKA/. Idram LLC, a company that operates Idram electronic payment systems, expects its monthly turnover to soar to about one billion drams in two years, Idram director, Gayane Stepanyan, told a news conference today.

The company was licensed by the Central Bank of Armenia on 29th of December, 2009. Idram LLC is the first in Armenia that has received permission from the Central Bank to issue electronic money.

She said presently the turnover is 100 million drams, but the number of users is on the permanent rise. This in mind the company expects the turnover to grow ten times in the next couple of years, she said.

Now the system has 40,000 registered users, of whom four thousand are very active, according to Ms. Stepanyan.

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 levels of protection, and access to it an be performed without the use of 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-