VTB Bank (Armenia) in cooperation with the Assembly of Armenians will  launch a multi-currency virtual card for tourists

ArmInfo. In 2020, VTB Bank (Armenia), in cooperation with the Assembly of Armenians, will launch a multi-currency virtual card for tourists on the Armenia Guide  platform. The relevant agreement was signed on September 20 by the  Director General - Chairman of the Directorate of VTB Bank (Armenia)  Ivan Telegin and Chairman of the Presidium of the Public Council and  co-founder of the "Assembly of Armenians" Vahe Yengibaryan.

Stressing the importance of a joint project with the Assembly of  Armenians, Ivan Telegin noted that the new product, which is  innovative in the Armenian market, will cover a new client segment,  particularly in tourism. "We see how actively the flow of tourists is  growing in Armenia. In particular, about 2 million tourists visited  Armenia this year, and the average high check is about $ 880," he  noted.

The head of the bank explained: "The technology embedded in the new  product, simple enough and at the same time is completely digital  that meets the trends in the banking market. Joint initiative allows  you to remotely open a card, identify customer. In addition, in the  future there will be an opportunity make the transition from a  virtual card to a real one. "

In addition, according to I. Telegin, the card allows you to  accumulate bonuses and is a kind of motivational system for  customers. "I believe that taking advantage of the time, customers  will become regular users of this product. And in the future, a  number of services will become cheaper for them, we will provide  additional bonuses," he said. From the point of view of conversion,  the head of the bank noted that the application will offer a  preferential rate of currency conversion, which will save money.

Answering the question of ArmInfo correspondent, I. Telegin noted  that the card is replenished quite easily.  Funds in online mode can  be transferred from any client account to this card account. "We are  currently negotiating with payment systems to reduce possible  commissions or their complete cancellation in order to facilitate the  process of replenishing the card," the banker said. At the same time,  he added that the card will be of an international class, with which  funds can, if necessary, be returned to the so-called "home account".  In general, the new product will allow tourists to more conveniently  organize their holidays in Armenia, in particular, find a hotel,  restaurant, guide, get information about the country's attractions,  museums, galleries, cinemas, organize excursions, and pay for the  necessary services. "Today everything is quite uncomfortably  arranged. And all the processes necessary for tourists are carried  out in different places. Sometimes you can stumble, to put it mildly,  low-quality services. Our joint product allows tourists not to lose  any time or money. We are absolutely sure that the product And we  expect that with the implementation of this project new customers  will receive new comfort, "concluded I. Telegin.

In turn, Vahe Yengibaryan emphasized that this initiative, taking  into account the extensive client base and the technological  effectiveness of VTB Bank, will make it possible to reach the most  distant client and stimulate the influx of tourists into Armenia.

It is worth noting that the Armenia Guide mobile application was  launched as part of the Armenian Summit of Minds in June 2019. The  application shows tourists and locals the most relevant events,  interesting routes and the main attractions of the country.

Recall that the Assembly of Armenians is a public organization  supporting and implementing social and entrepreneurial projects in  the field of culture, education, tourism, innovative technologies and  science in Armenia and the diaspora. For the first year of active  work, the Assembly launched and supported over 10 projects in the  Republic of Armenia and the Russian Federation.

It should be noted that VTB Bank (Armenia) CJSC became a member of  VTB International Financial Group in April 2004. Currently, the  second largest VTB Bank in Russia (PJSC) owns 100% of the shares of  VTB Bank (Armenia). The Bank traditionally ranks among the leaders of  the banking system of the Republic of Armenia in terms of key  indicators. In terms of coverage of the branch network, VTB Bank  (Armenia) maintains leadership, both in terms of their total number  and regional divisions.