YEREVAN, 5 August. /ARKA/. Vardan Khachatryan has been appointed as the new executive director of Armenian Card (ArCa) national payment system, the company's website reported.

Khachatryan, who succeeded Ishkhan Mkhitaryan on 11 June, previously served as the company's risk management director.

Vardan Khachatryan has many years of experience in the financial and banking system of Armenia, including in the Central Bank, as well as advanced training in regulators and leading companies in the USA, Germany, Austria, the Netherlands, Luxembourg, France and other countries.

Hovhannes Khachatryan, Chairman of the Board of Directors of Armenian Card, noted: "ArCa is of crucial strategic importance for Armenia. The company is currently in the transformation phase. I am convinced that with the new strategy and team we will achieve a synergistic effect, making Armenia's payment system one of the leading in the world."

ArCa also appointed new Board members: Ruben Sagoyan as Chief Development Officer, Haykanush Hakobyan as Chief Operating Officer, Aghasi Vartanyan as Chief Technical Officer and Ashot Vartanyan as Chief Risk Management Officer.

Armenian Card is a national payment infrastructure that provides cashless payments to 2.5 million customers and over 100,000 businesses. Armenian Card's ecosystem of partners includes commercial banks and payment organisations in Armenia. -0-