YEREVAN, February 16. /ARKA/ Armenian Card (ArCa) national payment system and processing center said  it will cease operations in the arca.am app from April 15, 2024.

The app was launched in early 2019 as a stage in the development of the existing Virtual Card payment system and was a solution for the market, providing a new experience and a set of services that were available to a small number of participants at the time.

"Essentially, the arca.am application became a prototype and an incentive for banks to design and develop their own applications, and therefore we can consider our mission a success. At the moment, there are many solutions on the market that cover, and in some cases even surpass, the range of services available in our app," ArCa said in a statement.

As a single processing center for most banks in Armenia, ArCa said it will focus on providing technological solutions to financial institutions that are direct beneficiaries of its services.

"Until then, if necessary, users can save their payment data by exporting it from the relevant sections of the WEB version of arca.am cabinet, as well as write out the data of recurring payments/moneytransfers, beneficiaries, in order to register them on other platforms in the future," the company noted.

Armenian Card announced plans to introduce new, modern products for its partner banks, as well as to develop its payments and money transfer business in Armenia. 

Armenian Card CJSC was founded in 2000. Its shareholders are the Central Bank and 15 commercial banks. Armenian Card member banks service cards of the national payment system ArCa, cards of international payment systems MasterCard, Visa, American Express, DCI (Diners Club International), MIR and JCB (Japan Credit Bureau). -0-