YEREVAN, September 3. /ARKA/. Areximbank-Gazprombank Group said today it began issuing MasterCard payment cards with chip modules. A plastic card with a chip-module is a payment card with a built-in microprocessor. Its functionality is much higher than of magnetic stripe cards. It allows storing a larger amount of data and offer also a higher security level.

According to a Bank’s press release, it will issue chip cards of all types without additional fees. In the near future, the Bank will start issuing also chip cards of Visa international payment system.

As of August 1 Areximbank-Gazprombank Group issued 101,416 cards, including 18,604 MasterCards, 80,384 Visa and 2,428 ArCa cards. The bank operates 70 ATMs and 246 POS.
Areximbank-Gazprombank Group (formerly Areximbank, renamed on June 12, 2009) was established in August 1998 for supporting entrepreneurship and serving financial flows between Russia and Armenia. Russia’s Gazprombank has been the sole owner of the bank since 2007.

Areximbank – Gazprombank Group is a member of VISA International and MasterCard International payment systems as well as ArCa local payment system. ($1 – 408,63 drams). -0-