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ACBA-CREDIT AGRICOLE Bank and Visa today announced the launch of Visa payWave issuance and acquiring program in Armenia. ACBA-CREDIT AGRICOLE Bank will be offering a range of card products enabled with Visa payWave innovative contactless technology - Visa Student, Visa Classic and Visa Gold cards.

Visa payWave contactless technology enables customers to pay by just tapping their card against a payment terminal without handing the card to the cashier, which offers even more convenient, secure, easier and faster payment experience to consumers. Besides, no PIN or signature will be required for payments under 10,000 Armenian Drams.

ACBA-CREDIT AGRICOLE Bank installed first contactless POS terminals at Yerevan Mall, a shopping and entertainment center and as of today most of the merchants at Yerevan Mall already accept Visa payWave cards. The Bank aims at installing about 150 contactless terminals by end of the year. Merchants that accept contactless payments have the following symbol on their POS terminals, all Visa payWave cards also have the same symbol.

Visa payWave offers numerous advantages to customers and merchants including speed, convenience and security. Merchants can also benefit from serving customers faster, thus limiting queues and increasing the number of customers.

To showcase new contactless technology ACBA-CREDIT AGRICOLE Bank hosted a launch event at Yerevan Mall and announced a promo campaign for all Visa payWave cardholders: the Bank will offer 50% cashback on the first transaction below 20,000 AMD performed on any Visa payWave card in the period from June 15 to August 31, both domestically or internationally. All existing Visa Student, Visa Classic and Visa Gold cardholders may upgrade to Visa payWave free of charge by June 30, 2015. For details of the campaign please visit www.acba.am.