YEREVAN, August 16. /ARKA/. VTB Bank (Armenia) is the first bank in the country to issue MasterCard PayPass contactless payment cards. "The unique technology of PayPass is one of the most modern, fast, affordable and reliable ways of making card payments around the world," the bank said in a press release. It said MasterCard PayPass payment cards have four main advantages.

First, they are convenient to use. Payment for purchases with a contactless card is very simple – one just needs to tap the card to a POS-terminal equipped with contactless technology, and the purchase will be paid in a second.

Second is speed. Purchases are paid instantly by one touch to the POS-terminal without wasting time to enter the PIN code (for payments less than 10.000 AMD). One just needs to approach the card to the POS terminal and the purchase is paid.

Another advantage is security. The card does not need to be handed to the cashier to pay for the purchase, i.e. the cardholder fully controls the payment process, thereby protecting the data of his/her card and preventing the risk of possible fraud.

Fourth is quality. Contactless cards are less likely to mechanical exposure and therefore their life is longer.

The terminals of the MasterCard contactless payment are located all over the world. In each store and at service points where the PayPass logo is present, customers can pay with the contactless MasterCard PayPass card simply by tapping the card to the terminal. From now on, all MasterCard cards will be issued by VTB Bank (Armenia) via contactless technology.

Detailed information can be found in the branches of VTB Bank (Armenia), on the Bank's website www.vtb.am, or by calling 87-87. VTB Bank (Armenia) was entirely acquired by Russian VTB Group in 2004. The bank runs - 67 branches across Armenia. -0-