ArCa Payment System Disrupted Again: CBA Advises Banks to Discuss Loan Repayment Issues

For the second time in a week, the ArCa payment system has disrupted services. This has made it impossible to conduct cashless transactions in Armenia. Numerous businesses, ranging from food outlets to retail stores and service providers, are unable to process payments. Citizens, who are urged by the government and the Central Bank to transition from cash transactions to cashless methods through newly adopted laws and strategies, now find themselves at an impasse.

The company has not provided a specific timeline for when ArCa's operations will resume. “Due to technical upgrades and improvements to the system, services in the ArCa system have been temporarily unavailable since 11:46. Our specialists are exerting all efforts to restore the system as soon as possible,” stated the ArCa payment system, thanking users for their understanding and patience.

The system includes Armenian banks actively involved in card payment transactions. National ArCa cards are issued through this system. Moreover, it operates as a processing and clearing center, servicing local transactions not only with ArCa cards but also with international cards such as VISA, MasterCard, American Express, Diners Club, and others.

The Central Bank advises that in cases of loan repayment issues, citizens should discuss the matter with their respective banks. Due to ArCa’s disruption, citizens are not only unable to make cashless payments and money transfers but also cannot make loan repayments through banking services.

“Given the problems present in the system, in cases where citizens are unable to fulfill their loan obligations, they can discuss this with their servicing banks and lending organizations,” the Central Bank stated in response to questions from Hetq.

They assure that other infrastructures serving the financial system are operating normally, and there has been no interruption in the provision of interbank services.