Launch of 10% Cashback Program for Cashless Transactions

Starting from July 1, a 10% cashback program for cashless transactions related to pensions and benefits will be launched. This was reminded by the Ministry of Labor and Social Affairs, noting that henceforth, citizens receiving pensions or benefits through cashless means will get a cashback of 10% the following month, provided they make transactions at retail outlets and service providers in the Republic of Armenia using payment cards and point-of-sale terminals. However, this cashback will not exceed 5,000 AMD.

The cashback also applies to utility payments; the mechanism covers not only transactions made through ATM-issued cards but also utility payments made via the bank's electronic (mobile banking) application.

As of now, VTB Bank Armenia, Ardshinbank, and Haybusinessbank have already joined the program. The ministry informs that all citizens who wish to change their pension or benefit provider can contact the territorial center of the Unified Social Service.