YEREVAN, December 5. / ARKA /. About 1.5 million payment cards, of which 1 million are international cards, are actively used in Armenia, said today the chairman of the Central Bank of Armenia Artur Javadyan at a meeting with the president of Diners Club International Eduardo Tobon.

The meeting followed after local Araratbank launched the first in Armenia Diners Club International payment cards.

Javadyan said that the new product will contribute to the development and improvement of the payment system in Armenia.

The cards are designed for frequent travelers. Black (premium) cards may be used to pay restaurant, hotel and airport bills, to reserve tickets and settle insurance-related issues. The cards can be used also to pay for purchases in more than 180 countries worldwide. The red card (classic) is intended for young people, preferring more economical types of travel.

Company Diners Club founded in 1950 . Maps of the system became the world's first multi- use cards . Diners Club operates in more than 185 countries around the world by about 675 thousand ATMs and POS terminals.

Araratbank was established in 1991. Some 74.18 % of its shares are owned by Barsegh Beglaryan, the owner of Flash oil trader and 25% by the EBRD. Araratbank joined NASDAQ OMX Armenia in 2009. -0-