Idram Announces the Launch of a Unified QR Infrastructure – Idram for All

At a press conference held on September 23, Idram announced the opening of its QR infrastructure to all financial institutions. From now on, the Idram QR code, installed in over 22,000 points of sale, can be scanned using the apps of any financial organizations, banks, and payment companies connected to this unified QR infrastructure.

Idram’s CEO, Arsen Kdenian, noted that five financial companies are already ready to join the new system, and negotiations are underway with other participants in the financial market. Of particular importance is that Armenian Card has also confirmed its intention to join the open QR infrastructure of Idram, which will lay the foundation for forming a national QR infrastructure. "This is a significant event for Armenia’s financial market, as clients of all financial institutions connected to the system will be able to use their apps to scan Idram QR codes and make payments at over 22,000 points of sale," emphasized Arsen Kdenian.

"Armenian Card, which is already the national payment system serving 2.5 million cards and over 80,000 businesses, takes on the role of technological infrastructure and a unified clearing center to facilitate the interaction of participants in the Open QR payment system. The unified QR system developed by Idram is an important step in advancing cashless transactions in the country. Armenian Card combines this innovation with its software and technical solutions, ready to support the development of innovative payment technologies that provide the most convenient, fast, and secure payment methods. This initiative will also contribute to the growth of the country’s digital ecosystem by creating a compatible payment network that fosters economic expansion and strengthens a cashless culture," said Vardan Khachatryan, Director of Armenian Card.

According to Idram's Commercial Director, Grigori Yolyan, the QR infrastructure includes not only the technical solution that allows users of other banks and financial organizations to scan Idram QR codes with their apps but also the creation of a financial ecosystem for partners. "We are not just talking about technical solutions; we are also focused on building long-term partnerships, improving interactions with points of sale, addressing all technical issues, and ensuring customer support. We have taken care to ensure that the infrastructure operates smoothly, handling the ever-growing volume of payments," he added.

"Evoca is the first bank to support the Open QR project. From now on, our clients can make payments at any point of sale that accepts Idram by simply scanning the Idram QR code through the QR section of their EvocaTOUCH app. This partnership proves that our clients and their comfort are our top priority," said Tatevik Khachatryan, Deputy Chairman of the Board of Evocabank.

"Open QR is the first experience of open collaboration in Armenia's financial market, which is highly welcomed. Fast Shift was the first to join Open QR and will promote the spread of this ideology. We aim to be leaders in fostering a culture of open, reliable partnerships and a client-oriented approach," said Irina Gasparyan, CEO of Fast Shift.

"We are pleased to join this initiative from Idram, considering our strategy focused on continuously enhancing the user experience with the Upay e-wallet. Fast and contactless payments have become a necessity today, and by participating in this project, we take another step towards providing our clients with convenient and accessible payment solutions. I believe that collaboration within the Open QR infrastructure will help create a new payment ecosystem in Armenia," noted Hasmik Gevorgyan, Director of Upay. ("Upay" company was founded by Ucom)

"This collaboration is important for our company, as our clients will now be able to make QR payments through the Easywallet e-wallet in an already extensive network of retail points. This is another step towards open banking, which is actively being developed by the Central Bank of Armenia. Within the framework of Open QR, there is no division between 'my' and 'your' clients – the client is shared, and financial companies must strive to attract them through flexible solutions and reasonable pricing policies. I would like to thank Idram for this strategic decision and for promoting a culture of openness in the market," said Mher Galstyan, Director of EasyPay.

"Converse Bank, based on the needs of its clients and following modern trends, is gradually expanding the range of services and tools provided on digital platforms, introducing new features to make the financial life of its clients more convenient. Thanks to this partnership, their available payment solutions will be enhanced with an additional option," noted Benyamin Tadevosyan, Director of the Information Technology and Digitalization Department at Converse Bank.

Idram has signed memorandum of cooperation with the companies already connected to its unified QR infrastructure and remains open to further collaboration with banks and payment organizations operating in Armenia.

COMPANIES ARE REGULATED BY THE CBA