VIDEO: Government Plans to Eliminate Cash Circulation

During today's executive meeting, it became clear that the government intends not only to reduce cash circulation in Armenia but to eliminate it altogether. This was revealed during a dialogue between the Prime Minister and the head of the State Revenue Committee (SRC).

SRC Chairman David Ananyan stated that there are currently private companies willing to import cash register machines, but there is a need for the government not to mandate the acceptance of payment cards with those machines.

The Prime Minister, Nikol Pashinyan, asked how this aligns with their intention to reduce or eliminate cash circulation. This question remained unanswered during the subsequent discussion. However, the SRC Chairman clarified that according to the decision, they would work with banks on the implementation of POS terminals within six months.

Pashinyan added that the world is now even moving toward abandoning bank cards and making payments via mobile phones.