News - VTB Armenia Expands Payment Options for Russian Tourists

YEREVAN, April 20. / ARKA /. In anticipation of the tourist season, VTB (Armenia) is enhancing its acquiring infrastructure by expanding its network and implementing digital payment solutions. According to the bank's press service, this enables more efficient and comfortable payments, including in the online environment. The bank's POS-terminal network covers key tourism sector facilities, ensuring quick and convenient payments. With an increasing number of guests from Russia, VTB (Armenia) has broadened the capabilities for cashless payments, making transactions in the country more convenient. The bank is the sole entity in the local market accepting MIR payment system cards, allowing tourists to pay for goods and services in hotels, restaurants, shops, medical institutions, and service points without cash. Additionally, POS terminals are installed in all bank branches, allowing MIR cardholders to withdraw cash at a more favorable rate. The development of the tourism industry remains a crucial factor in Armenia's economic growth. Last year, more than 2 million tourists visited the country, with over 40% being Russian citizens. The total tourist flow increased by 2.5%, highlighting a steady interest in Armenia as a travel destination. The expansion of non-cash payment infrastructure improves the quality of service for the country's visitors and supports further tourism development. The bank's POS-terminal network continues to grow actively: their number increased by 76% last year, especially in the trade, restaurant, and hotel business segments. Internet acquiring is also evolving: the number of connected solutions has grown by 117%, reflecting the increasing demand for online payments. 'Tourism growth directly influences payment infrastructure requirements: businesses need to accept familiar payment methods for clients. We develop acquiring as a tool that helps effectively service the growing flow of clients,' said Evgeniy Motovilov, Deputy General Director - Head of the Directorate VTB (Armenia). According to him, acquiring helps businesses increase sales, positively impacting both clients and Armenia's economy. 'Our plans for 2026 include launching new acquiring products that consider the peculiarities of our clients, developing integrations, and further optimizing tariffs,' noted Motovilov. Currently, particular attention is being paid to the development of Internet-acquiring. The bank implements solutions for online business - payments through payment forms on the site (V-POS) and payment by link (E-com). This allows entrepreneurs to expand sales channels and simplify payment acceptance from customers. For users, such solutions enable pre-payment for services, including hotel reservations, using MIR cards, making trip planning more convenient. The activities of CJSC 'VTB Bank (Armenia)' are regulated by the Central Bank of Armenia.