VTB Bank (Armenia) launched Internet acquiring service

ArmInfo. VTB Bank  (Armenia) launched an online acquiring service for its clients -  private entrepreneurs, legal entities and individuals - non-cash  payment for purchases in online stores.

As the press service of the  bank told ArmInfo, the goal is to stimulate the growth of non-cash  payments in Armenia and support the growing demand for Internet  purchases every day. This service provides an opportunity for  Armenian entrepreneurs to carry out electronic commerce not only  across Armenia, but also abroad, stimulating the development and  distribution of Armenian products around the world.

According to the source, the service of Internet acquiring, besides  that saves time for buyers and is a comfortable way of making  purchases, providing the possibility of electronic payment for local  and international cards - ArCa, VISA and Mastercard. In particular,  for electronic payments on the Internet, the 3D Secure security  system operates, which eliminates the possibility of fraud for both  cardholders and owners of online stores. Acceptance of electronic  payments online is possible both through sites and mobile  applications. The service provides for a simple and fast process of  cancellation of transactions and an individual approach to each  organization.

The use of Internet acquiring will allow shop owners to increase  profits by attracting new customers - holders of bank cards  preferring to pay for goods and services via the Internet; Increase  sales by providing an opportunity for buyers to immediately realize  the desire to purchase goods by paying it with a bank card  (); Expand the geography of coverage of the  target audience - payment can be made from anywhere in the world;  reduce the costs associated with the processing of cash: the  company's costs for conducting transactions on the Internet are lower  than the costs of renting premises, staff salaries in stores, cash  collection, etc.

Customers of shops in turn will get the convenience of making  purchases at any time from any place where the Internet is available  and the opportunity to purchase your favorite product or service in a  matter of minutes.

According to statistics, with the possibility of choosing a store,  the advantage will remain for those with whom it is easier to settle.  It is statistically recorded that any acquiring increases the total  amount of purchases, sometimes by a third, especially if several  inexpensive or related products are purchased.

According to the analytical review "Armenian banks in the card  business", prepared by IC ArmInfo, VTB Bank (Armenia) holds the  leading position in the number of active cards, both general and  MasterCard and Visa, as well as the volume of plastic transactions.  VTB Bank (Armenia) issues and maintains international VISA and  MasterCard cards, along with serving local ArCa cards. VTB Bank  (Armenia) has its own processing.

To note, "VTB Bank (Armenia)" CJSC became a participant of 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.  VTB Bank (Armenia) retains leadership in the coverage of the branch  network with 67 branches with presence both in the capital and in all  regions of the country.