Commercial banks in Armenia independently decide which payment systems they will cooperate with. writes about this TASS Referring to the statement of the Central Bank of Armenia (CB).
The ministry explained that financial institutions make decisions on working with payment systems based on the risk management strategy, including those related to sanctions. In the case of Mir cards, banks act on the threat of falling into US sanctions.
The Central Bank noted that banks, if they refuse to work with any payment system, are obliged to appropriately inform their customers if the terms of service change.
Before that, it was known that Armenia’s payment system was officially open. reported Russian National Payment Card System (NSCP), where banks participating in the Armenian Card (ArCA) will stop servicing Mir cards at the end of March.
19 March TASS reportedThe Central Bank of Armenia decided to ban local banks from servicing the Russian Mir payment card as of March 29 due to the threat of falling into American sanctions. It was noted that the Central Bank of Armenia presented this process as a decision of private banks in order “not to offend the Russian side”.
happened before knownthat a major Kazakh bank will stop its activities with Mir cards.