YEREVAN, September 25. /ARKA/. In early September 23,088 senior citizens in Armenia had plastic cards to receive their pensions against 17,346 in the beginning of this year, Armenian Card payment system reported on Tuesday.
Pensioners in Armenia have been using plastic cards since January 2011. They choose banks at own discretion.
The bulk of the pension cards issued by Armenian Card system member banks are ArCa cards, which are served all over Armenia’s territory.
The new pension card system has been introduced in the country as part of the government’s pension system reformation.
According to the labor and social affairs ministry, there are 520,000 registered pensioners in Armenia.
In 2012, the size of the basic pension was raised to AMD 13,000 from former 10,500, and the average service pension was increased from AMD 28,700 to AMD 31,300.
Armenian Card CJSC was established in March 2000 as a single national payment card system. Now, 19 of the country’s 21 commercial banks participate in the system.
There are various ArCa-based products in the national system - ArCa Debit, ArCa Classic, ArCa Gold, ArCa Business, ArCa Affinity, ArCa Co-branded, ArCa Platinum and ArCa pension cards.
The company is a full member of MasterCard Europe international payment system. It is also third party processor of VISA and American Express. ($1 – AMD 407.18).-0--