YEREVAN, February 22. /ARKA/. The Central Bank of Armenia said today it has given TelCell company a permission to issue electronic money.

Arthur Khachatryan, head of a TelCell’s unit in charge of business development, told ARKA that the company launched TelCel money transfer system, the permission for which was given by the regulator at the end of 2015 and the issuance of electronic money.

"Initially, this product will be available as a standard web and mobile electronic purse applications, and in the future we plan to unveil more interesting products," he said, adding that this product will be available to customers in the second quarter of 2016.

TelCell, launched in Armenia in 2007 is the largest system of payments intake, covering the capital and other regions of the country. Today TelCell system has more than 300 successfully operating points of payments intake in Yerevan, Gyumri, Vanadzor, Etchmiadzin, Sevan, Hrazdan and Artashat. In the nearest future the company planes to expand the network to 400 terminals and cover other regional centers of the republic. -0-