Armenian Card (ArCa) Company Research Report

Company Overview

• Name: Armenian Card (ArCa)

• Mission: The company aims to establish and develop modern payment-settlement systems in Armenia, facilitating cashless payments for goods and services through plastic cards and other modern payment technologies.

• Founded: March 2000

• Founded by: Central Bank of Armenia and ten commercial banks in Armenia

• Key People:

• Vardan Khachatryan, Executive Director (appointed on June 11, 2024)

• Hovhannes Khachatryan, Chairman of the Board

• Ruben Saghoyan, Development Director

• Haykanush Hakobyan, Operations Director

• Aghasi Vardanyan, Technology Director

• Ashot Vardanyan, Risk Management Director

• Headquarters: Movses Khorenatsi 15, "Elite Plaza" Business Center, Yerevan 0010, Armenia

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: ArCa is known for being the national operator of the Armenian payment system and a major processing center for Armenian banks, supporting the issuance and servicing of both national (ArCa) and international (MasterCard, Visa, American Express, DCI, MИР, JCB) cards.

Products

• Product Offering:

• ArCa National Payment System Cards: Provides processing and clearing services for card transactions, enabling cashless payments for goods and services.

• High-Level Description and Key Features:

• ArCa Cards:

• Support both contact and contactless payments.

• Integrated with 3D Secure technology for secure Internet payments.

• Tokenization options for Android systems for mobile payments.

• Presents technological features compatible with international payment systems.

Recent Developments

• Recent Developments:

• Leadership Changes:

• Vardan Khachatryan appointed as the new Executive Director in 2024.

• New executive team members appointed, including development, operations, technology, and risk management directors.

• Technological Advancements:

• Implementation of contactless chip technology in all ArCa cards.

• Working on tokenization projects for ArCa cards, aiming to allow Android users to pay with smartphones.

• Introduction of the ArCaPay system for instant payments using mobile identifiers like phone numbers.

• Working on an Instant Payment System for B2B and state-related transactions.

• Development of a nationwide payment QR code standard.

• Strategic Partnerships:

• Partnered with Doing Digital Forum 2024 as a national partner.

• New Features Added:

• Released new security features like 3DS 2.0 for online card transactions.

• Enhanced functionality for bank mobile apps including remote cardless cash withdrawals and phone number-based transfers.

Contact Information

• Phone: +374 10 592222

• Fax: +374 10 440390

• Email: info@arca.am

• Operating Address: Movses Khorenatsi 15, "Elite Plaza" Business Center, Yerevan 0010, Armenia

• Legal Address: Garegin Nzhdeh 32/1, Yerevan 0026, Armenia