- The activation process of the POS payment terminal service by the Bank usually takes up to 5 (five) working days, but it is possible to activate it in a shorter period, which is subject to discussion between the trade and service point and the Bank.
- The tariffs of commission fees charged for cashless transactions by the Bank are set on contractual basis according to the service point. Moreover, no activation or service fee of the POS terminal service is defined by the Bank.
- Minimum turnover amount*
If the monthly turnover realized with the POS terminal (except for the Mobile POS application) is less than AMD 300,000, the monthly maintenance fee (taxes included) is AMD 3,000
* the total of transactions executed through all POS terminals activated in the given TSP during the calendar month is taken as a basis for turnover
- POS terminal agreement termination fee (including taxes)
In case of early termination of the agreement and/or replacement of the cash register within one year after activation with the bank-provided POS terminal or cash register, a monthly maintenance fee (taxes included) is AMD 50,000
- The bank provides necessary equipment for activating the service of POS terminals most appropriate for the activity with the right of temporary, free use.
- After completing the process of POS terminal service activation, the Bank employee familiarizes the relevant employee of trade and service point with all the rules of operating the POS terminal and provides the manual of servicing the cards and the logotypes of servicing cards.
- After the activation of POS terminal service the Bank provides the papers of receipt with the Bank’s logo free of charge.
- It is possible to accept payments from any credit or debit cards issued by the bank and contactless methods of payment through POS terminal.
- The bank serves the cards of the following payment systems:
- Armenian Card (ArCa)
- Visa International, Europay,
- If the monthly turnover implemented with the POS terminal by trade and service point (the sum of transactions made with all POS terminals activated at the given trade and service point during the calendar month is accepted as a basis for circulation) is smaller than AMD 300,000, a service fee is charged by the Bank in the amount of AMD 3,000 per month, including the taxes. A cancellation fee of AMD 50,000 including taxes is charged for early termination of the agreement within 1 year after the installation (activation) of the POS terminal service.
- In the event that the trade and service point does not provide a turnover of at least AMD 900,000 of non-cash transactions carried out through the POS terminal for 3 months, the Bank has the right to terminate the POS terminal service contract ahead of the term and stop the servicing of the trade and service point.
You can get acquainted with the guidebook of servicing the payment cards of ArmEconombank OJSC here
You can get familiar with the tariffs applicable in the bank here