The annual growth of non-cash transactions by plastic cards in Armenia in the first half of 2017 has accelerated from 11.7% to 47.2%. According to the report of the Central Bank of Armenia, the volume of transactions with non-cash cards made 126.2 bln drams in the accounting period. Only in the 2nd quarter the volume of non-cash plastic transactions increased by 26.9%.

The total volume of plastic transactions in the first half of 2017 amounted to 748.6 billion drams, an annual increase by 14.2%. The number of circulation cards decreased to 1.6 million, annual decline was 8.9%, and quarterly growth was 3%.

The volume of non-cash transactions in the five-year period has increased by 3.2 times, while the main 2.2 times growth has occurred over the past three years. The share of non-cash transactions in the total volume of plastic transactions during the last five years has increased from 10% to 17%, which is conditioned by a significant increase in internet trading and Cashback operations by banks.

As of July 1, 2017, Visa card is the leader in the Armenian plastic cards market, 36% of the market, ArCa card is 33%, MasterCard is 28% and the remaining 3% make HSBC, American Express, Diners Club). Meanwhile, the share of Visa cards has dropped by 45% annually, while ArCa and MasterCard have grown by 30% and 22%, respectively. For five years the cards circulating increased by 41% and the transaction volume was 88%.

The material is copyrighted and protected by law