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August 17, 2017

VTB Bank, Mastercard to issue new contactless card in Armenia

VTB Bank (Armenia) in collaboration with Mastercard has rolled out Mastercard PayPass contactless payment cards in Armenia.

The card members can tap their contactless cards on the POS-terminals equipped with contactless technology to complete their transaction.

Furthermore, payments can be made instantly by one touch to the POS-terminal without entering PIN for payments less than AMD10.

The card does not need to be given to the cashier to pay for the purchase, as the cardholder completely controls the payment process, which helps to protect the data of the card and preventing the risk of possible fraud.

The Mastercard PayPass contactless payment cards will be accepted at all stores and at service points where the PayPass logo is present.

In a statement, the bank said: “The unique technology of PayPass is one of the most modern, fast, affordable and reliable ways of making card payments around the world.”

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