State Revenue Committee Highlights Risks in Purchasing POS Terminals

The State Revenue Committee of Armenia has initiated a liberalization process for the introduction of control and cash register machines (POS terminals), allowing each economic entity to import POS terminals that comply with requirements set by the Armenian government, as well as develop software, and sell and service these devices.

It is important to note that the conclusion regarding compliance with the requirements set for POS terminals and their software is provided by the "Office for the Introduction of Control and Cash Register Machines", a state non-commercial organization. Entities involved in the implementation of POS terminals are only allowed to sell models that have received a compliance conclusion.

Previously, the implementation process of POS terminals was managed by the aforementioned office as part of the State Revenue Committee, ensuring that the software of POS terminals complied with Armenian legislation. With the liberalization of the POS terminal market, the responsibility for the seamless operation of devices and software compliance now falls on the selling company.

Considering the above, the State Revenue Committee informs that when purchasing a POS terminal from an economic entity, it is essential to pay attention to the inclusion of the following points in the contract governing the acquisition and risk management:

• Existence of a warranty for the POS device,
• Compliance with sub-point 2 of point 2 of the Armenian government’s decision No. 1318-N dated October 5, 2017, which ensures the capability of conducting cashless transactions through the POS terminal and the existence of a documentary sub-program in the POS,
• Permanent compliance of the program with the legislation of Armenia and the requirements set by the Armenian government.