Central Bank of Armenia has introduced new limits on the maximum commission fees for payments made with bank cards. Starting March 1, transaction fees will be reduced by nearly half on average.
Under the new regulations:
Payments made with ARCA cards will be subject to a 0.5% commission fee
Payments made with international cards will carry a 0.9% commission fee
The changes were announced today by the Chairman of the Central Bank, Martin Galstyan, who noted that the decision is expected to ease the financial burden on consumers and encourage wider use of card-based payments.
