ACBA Bank and VISA international payment system through ACBA Digital application for the first time in Armenia launched an innovative payment system with NFC option. The new technology allows you to make non-cash payments via mobile phone, simply by bringing it closer to the POS terminal. The system is based on Visa Token service and now available only for Android mobile phones and VISA cardholders of the Bank.
To use the system you need to have ACBA Digital application, ACBA Bank VISA card, as well as the digital (tokenized) version of the card in ACBA Digital application.
*You can download ACBA Digital application here.
Due to the launch of a real NFC payment system in Armenia, ACBA Bank is running a contest until February 3, 2021 inclusive, the 10 winners of which will be awarded a SAMSUNG GALAXY S20 ULTRA phone.
The terms of the contest are:
- Make a minimum of 10 NFC payments
- Minimum amount of one payment - 1000 AMD.
The winners will be determined at random through an online program. The full terms of the contest are presented here.
"Tokenization is an innovative step in the development of the payment system in Armenia. As a result of our work with our partners in the international VISA and local ArCa payment system, we were able to register this result. Visa Token service is already operating in Armenia and it has been introduced in the new mobile application of ACBA Bank. We are creating a new culture of contactless payments,” said ACBA Bank CEO Hakob Andreasyan.
"Today we are launching a new technology in Armenia - tokenization, without which the further full development of the country's payment ecosystem is impossible. The launched Visa Token service testifies to our readiness to implement innovations, which promotes the development of contactless payments in Armenia. Consumers today, more than ever, prefer the option of making secure, fast, convenient and contactless payments. Every second transaction with Visa cards in Armenian shops is now performed contactless. During the quarantine, the number of contactless transactions in Armenia almost doubled. I am confident that the launch of the Visa Token service will develop a culture of contactless payments, as the payment process will be simplified and consumers will be offered a better consumer experience," said Christina Dorosh, Regional Head of Visa International Payment System in the Caucasus.