Visa and Idram signed a Memorandum of Understanding

On November 16, the world’s leader in digital payments – Visa and Idram, the leading digital financial platform and fintech company in Armenia, signed a Memorandum of Understanding on collaboration across Central Europe, Middle East and Africa markets to provide advanced fintech solutions.

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The memorandum implies the strategic cooperation and joint promotion of such technological solutions as contactless payments, BNPL (Buy now, Pay later), digital loyalty systems in CEMEA markets.

According to Arsene Kdenian, Director of Idram, the cooperation will open a new era for the company. “We are excited to partner with a global and cutting-edge technology company like VISA. We are inspired by the opportunities that are opening up to jointly promote on the CEMEA markets, including those products and solutions that we have successfully implemented and are working on the Armenian market, such as contactless payments, BNPL, digital loyalty and others.

I hope that in the framework of cooperation with Idram and IDBank, colleagues from Visa were able to assess our potential and solutions, which resulted in our today’s memorandum.

I congratulate all of us, welcome our VISA partners and wish for successful and long-term cooperation”, said Arsene Kdenian.

“We are extremely proud to mark 20th anniversary of Visa’s presence in Armenia and expend our partnership further.  We are pleased to start collaboration with one of the leading fintech platform – Idram and sign the Memorandum of Understanding. Visa is committed to driving innovations and developing digital payments and we believe we make another step forward to cashless economy. Within our cooperation, we will be able to offer these solutions in CEMEA markets where Visa has been successfully operating”, added Diana Kiguradze, Visa Regional Manager for Caucasus.

Idram is the leading fintech company in Armenia featuring both digital wallet and banking experiences via Idram&IDBank digital financial platform in cooperation with IDBank. Some of the exciting features of the app are:

  • Payments for 400+ online services;
  • Digital and plastic cards online ordering;
  • QR and NFC payments at POS, online web and mobile checkouts;
  • Buy now pay later installments plans;
  • Digital banking;
  • Full remote identification and onboarding.

Visa is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Their mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive.