Mutual service of Russian plastic cards The World and Armenian ArCa to be launched in 2017

02.03.2017 14:24
Mutual service of Russian plastic cards The World and Armenian ArCa to be launched in 2017

YEREVAN, March 2. /ARKA/. Russian plastic cards The World is expected to start servicing Armenia’s ArCa this year and ArCa will service The World, Olga Skorobogatova, deputy governor at the Central Bank of the Russian Federation, said in an interview with RNS.

In her words, Russia, Kazakhstan, Belarus and Armenia signed an important international agreement in 2016 to cooperate in payment systems area.

The parties, she said, want to develop four components. The first is cooperation among national payment card systems, the second is development of each country’s national payment system, the third is to introduction of single standards and the fourth is development of financial technologies.

Skorobogatova said that Belcard payment system is being discussed now, Kazakhstan, she said, ‘is learning our experience now, since it has no its own national payment system, but it is inspired with the National Payment Card System.

In summer 2016, Armenia’s ArCa and Russia’s The World signed a memorandum to serve each other’s cards. The roadmap was signed in November and the pilot implementation of the program is expected to begin in August or September 2017.

Single rules and prices will be set for cooperation and all calculations will be made in national currencies.

This cooperation between Armenia and Russia will set an example for other CIS countries. M.V.---0----


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