ACBA-Credit Agricole Bank and Visa have launched the Visa payWave issuance and acquiring program in Armenia.
Visa payWave contactless technology enables users to make payment simply tapping their card against a payment terminal without handing the card to the cashier.
It does not require a PIN or signature for payments under AMD10,000, the bank said.
The bank said that it will be offering a range of card products enabled with Visa payWave contactless technology – Visa Student, Visa Classic and Visa Gold cards.
The bank intends to install about 150 contactless terminals by end of 2015.
To launch the program, the bank has partnered with Oberthur Technologies and Ingenico.