Central Bank of Armenia reduces maximum cashless payment fees for businesses starting March 1

The Central Bank is introducing limits and reducing commissions charged to businesses for cashless payments.

Starting from March 1, the maximum commission will be set at:

• 0.5% for ArCa cards

• 0.9% for international cards.

The decision was made amid complaints from entrepreneurs, who argue that the current commission rates of 1-4% hinder the development of cashless commerce.

According to the Central Bank’s estimates, the measure will cost the banking system approximately AMD 2 billion (around USD 5 million), but it will ease the financial burden on businesses and contribute to the expansion of cashless payments.