Tuesday, October 21 2014

 Visa registers acceleration of growth rates in the Armenian market. When replying to ArmInfo's question, Irina Kamkhadze, Regional Country Manager, Caucasus Countries at Visa, said on Tuesday that as of late Q2 2014 versus 2013 the Visa turnover in the trade network grew by 26%, which exceeds the indices of the previous years. The year-over-year growth in the number of Visa transactions made up 18%, which is also higher than over the previous years.     

"Our statistics shows that the growth rates remain high, so, we see no downward tendency. We see onward progress only", she said. 

Meanwhile, the Central Bank of Armenia says that in H1 2014 the year-over-year growth of Visa cards in the Armenian card market made up 18.2% versus 35.4% in H1 2013. A year before the growth made up almost 40%. At the yearend of 2013 the number of the cards in the local market rose by 25.3% versus 43.2% in 2012 and almost 35% in 2011. In H1 2014 the amount of transactions with Visa cards totaled 258.1 bln AMD versus almost 40% growth in H1 2013. In H1 2014 versus H1 2013, the number of transactions increased by 22.5% to 4.9 mln versus 30% growth within the same period a year before. The share of Visa cards in the total volume of plastic transactions made up 47% (in H1 2014) versus 52% a year before. 

Visa - Payment cards are used by people around the world. Visa cards offer convenience and reliability and are used for paying for purchases in more than 200 countries. VisaNet processing system capacity is 47,000 transactions per second. By Visa's data on the Armenian card market, as of late Q2 2014 versus late Q2 2013 the turnover growth in the trade network made up 26% and the share of turnover in the total amount, including cash withdrawal exceeded 10%.