Payments/AM
Armenia
ISO AM · 3 schemes
Summary
- ArcaQR is the unified QR payment system
- ArCa Pay instant transfer via phone number (Nov 2024)
- Armenian Card (ArCa) national card system
- 4 million QR transactions in first 9 months of 2024
- 2026 cashback incentive for local card payments
Banking landscape
Central Bank
- Name: Central Bank of Armenia (CBA)
- Website: https://www.cba.am/
- Role: Monetary policy, payment systems regulation
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Ameriabank | Private | Ameria Mobile |
| 2 | Ardshinbank | Private | Ardshinbank App |
| 3 | Converse Bank | Private | Converse Mobile |
| 4 | Evocabank | Private | Evoca App |
| 5 | AraratBank | Private | AraratBank Mobile |
Market Structure
- Armenian Card (ArCa): National payment system
- Idram: Leading mobile wallet
- Telcell: Payment network
- Banks: ArcaQR/ArCa Pay participants
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| ArcaQR | Armenian Card | QR Payments | Active |
| ArCa Pay | Armenian Card | Instant transfer | Active (Nov 2024) |
| ArCa | Armenian Card | Card network | Active |
ArcaQR System
- Unified QR payment system
- Instant payments from bank accounts
- Single scan payment process
- September 30, 2024 official launch
ArCa Pay (November 2024)
- Instant money transfers
- Phone number only required
- No banking details needed
- Lower fees than inter-card transfers
ArCa Pay Participating Banks (Initial)
- Ameriabank
- Evocabank
- Converse Bank
- (More expected soon)
QR code standards
ArcaQR
| Attribute | Value |
|---|---|
| Operator | Armenian Card CJSC |
| Launch | September 30, 2024 |
| Banks | 6+ participating |
| Transactions | 4M (9 months 2024) |
ArcaQR Features
- Unified QR payment standard
- Direct bank account payments
- Mobile banking app scanning
- Real-time settlement
ArcaQR Participating Banks
- Ameriabank
- Ardshinbank
- Armeconombank
- Evocabank
- Converse Bank
- AraratBank
Mobile Wallet QR
- Idram QR payments
- Telcell QR
- ~200,000 users (Idram QR in 9M 2024)
- 4 million transactions total
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Idram | Idram | Yes | Wallet, P2P |
| Telcell | Telcell | Yes | Payments |
| Bank Apps | Various | Yes | ArcaQR |
| ArCa Pay | Armenian Card | N/A | Phone transfers |
Idram Wallet
- Leading mobile payment app
- QR code payments at stores
- 200,000 QR users (9M 2024)
- 4 million QR transactions
Bank Mobile Apps
- ArcaQR integration
- Direct bank account payments
- Real-time QR scanning
- Interbank interoperability
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| ArcaQR | Unified QR | ArCa | 6+ banks | arcaqr |
| ArCa Pay | Instant | Phone | 3+ banks | arca-pay |
| Idram QR | Wallet QR | Private | 200K users | idram |
Sources
- BM.ge - ArCa Pay Launch
- Armenian Card - ArCa Pay
- Hetq - ArCa Pay System
- Armenian Lawyer - Payment Processing
- ArCa Official
- Transfi - Armenia Payment Rails
- ARKA - Ameriabank ArcaQR
- Finport - 2026 Cashback
- News.am - ArCa Pay
- News.am - AraratBank ArcaQR
Full country report
Schemes
Standards
Mentioned · 1