Ardshinbank launches PayX payments in Mobile Banking application

ArmInfo. Ardshinbank, continuing the development of remote services, provides an  opportunity to make simple and secure payments through the PayX  system, which is already available in the Mobile Banking application.

As stated in the official message of the bank, in order to make PayX  payments at points of sale and service you need to select PayX in the  <Operations> section of Mobile Banking, attach a card, scan the QR  code and make a payment with one click. Meanwhile, the application  provides the ability to make payments, including through the cards of  member banks of the ArCa system.

You can get acquainted with the constantly expanding list of points  of trade and service accepting PayX payments by clicking on the  following link https://merchants.payx.am.  

To recall, in December 2018, the PayX mobile application was launched  in Armenia within the framework of the project on creating a single  infrastructure for mobile payments. The project's initiators and co-  founders are experienced banker Smbat Nasibyan and technology expert  Beniamin Tadevosyan. As S.  Nasibyan told ArmInfo correspondent, the  final goal of the PayX project is to bring non-cash card circulation  in Armenia to 50-60% with coverage of services not previously  involved in the mobile payment system.

"Today, this figure still makes up 10-20% of the total volume of card  transactions," he said. According to the analytical review "Armenian  Banks in the Card Business", prepared by ArmInfo IC, Ardshinbank is  in the TOP-5 by the total number of active cards - over 194 thousand  pieces as of October 1, 2018, with the second position held by the  number of Visa and MasterCard cards, respectively 120 thousand and  68.2 thousand. The bank has increased the total number of cards by  12.8% y-o-y. In terms of the volume of plastic transactions,  Ardshinbank, holding onto the TOP-5, moved up from 5th to 4th  position - 167.2 billion drams for 9 months 2018 with an increase of  62.9% per annum. In terms of the number of ATMs and the volume of ATM  transactions, the bank entrenched itself in the TOP-3 - 150 ATM, the  volume for 9 months 2018 - 151.1 billion drams (y-o-y growth of  55.5%). Ardshinbank was one of the first to issue ArSa-MIR cobaging  cards. The bank, along with issuing and servicing local Ar‘a cards,  issues and services international Visa and MasterCard cards.

To note, Ardshinbank was founded in 2003. Arinshinbank's majority  shareholders are Arins Group LLC (this is renamed LLC Business  Investment Center LLC) with a 67.97% share in the capital and REGION  Industrial Finance Corporation CJSC - 29.52%. Ardshinbank is the  second largest bank in Armenia, having one of the largest branch  networks, covering both the capital and all regions of Armenia.  Ardshinbank is the only private institution in Armenia that has been  assigned ratings by two international rating agencies (Moody's and  Fitch), equal to the country rating of Armenia.