VTB Bank (Armenia) has started receiving contactless MasterCard  PayPass cards in outlets

ArmInfo.VTB Bank (Armenia) launches reception of contactless MasterCard PayPass cards in the trade network. As ArmInfo was told in the press service of the Bank,  customers can pay by contactless MasterCard PayPass card of VTB Bank  (Armenia) and other banks (local and foreign) by simply touching the  terminal at the trade and service point where the PayPass logo is  present.

The source reports that in early 2018, all retail outlets of VTB Bank  (Armenia) will be equipped with devices that read the contactless  MasterCard PayPass cards.

In the case of contactless MasterCard PayPass cards, payment is  instantaneous, in one touch of the card to the POS terminal, without  the need to transfer the card to the cashier's hand. The unique  technology of contactless payments PayPass is one of the most modern,  fast, affordable and reliable ways of making card payments around the  world. Thanks to this technology, the customer service time is  shortened, which, accordingly, leads to a reduction in queues at the  cash offices.

When making contactless payments with MasterCard PayPass cards of VTB  Bank (Armenia) for less than 10 000 AMD, PIN code entry is not  required, which facilitates instant confirmation of payments. The  contactless method of payment greatly simplifies the work of the  point-of-sale cashiers. to make payment to the cashier it is required  to carry out 2 simple steps (instead of 4 in the case of standard  payments) - activation of the POS terminal and input of the payment  amount. Then the client himself, after checking the purchase amount  on the terminal, presents the card to the reading POS terminal - and                the purchase is paid.  According to the 16th issue of  the analytical review "Armenian Banks in Card Business" prepared by  IA ArmInfo, VTB Bank (Armenia) holds the leading position in terms of  the number of active cards, both general and MasterCard and Visa, as  well as the volume of plastic transactions. So, on October 1, 2017,  the Bank has almost 334 thousand cards, of which over 181 thousand  are MasterCard. For 9 months of 2017, the volume of plastic  transactions on VTB Bank (Armenia) cards was 181.2 billion drams, of  which about 93% or 167.2 billion are ATM transactions. The Bank  managed to increase the volume of plastic transactions in the annual  cut by 13.5%, and ATM transactions by 14%. Until 2013, VTB Bank  (Armenia) issued and serviced only international VISA cards, and  since September of that year, having become a full member of the  international payment system MasterCard Worldwide, started issuing  and servicing Cirrus / Maestro and MasterCard cards, along with  servicing and local ArCa cards. VTB Bank (Armenia) has its own  processing.

VTB Bank (Armenia) CJSC became a participant in the international  financial group VTB in April 2004.  At present, VTB Bank, the second  largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is  traditionally one of the leaders of the banking system of the  Republic of Armenia in terms of key indicators. The coverage of the  branch network of VTB Bank (Armenia) has 67 branches with presence  not only in the capital, but also in all regions of the country.