Ardshinbank and Visa offer smart Visa payment rings for the first time in Armenia

The following is an official press release by Ardshinbank

Ardshinbank and Visa offer their clients "smart" Visa payment rings. Visa Payment Ring is the first wearable device with a built-in NFC-module in the form of a ring with the ability to make payments and linked to the Visa cardholder’s account.

With the Visa Payment Ring, consumers can quickly and conveniently pay for products and services by simply swiping the ring to the contactless payment terminal. At the same time, payments up to AMD 20,000 are made without entering the PIN-code, as is  the case with non-cash payments when using contactless cards.

The ring is made of high quality ceramic, has a modern look, and can become a fashion accessory.

Artak Khachatryan, Ardshinbank Retail Business Director, noted that the payment services market is developing dynamically with new proposals appearing in the field of high innovative technologies, which are designed to significantly speed up the payment process and make it more convenient and safe.

“And in the case of payment rings, it is also fashionable, because the payment ring can also be worn as a piece of jewelry. Of course, Visa Payment Rings are a worthy alternative to other payment methods. I am confident that this new payment instrument will become popular among Ardshinbank's clients,” he said.

According to Kristina Dorosh, Visa Manager for the Caucasus Region, the Visa Payment Ring with the ability of making payments allows consumers to use all the advantages of contactless technologies for convenient and secure shopping.

“This ring is one example of the ongoing innovation that Visa is continually creating to enable digital payments to be accepted everywhere and to move towards a cashless economy,” she said.

The ring can be ordered at the head office or at any branch of Ardshinbank.

To remind, Ardshinbank was recognized in 2020 by the international payment system Visa as the largest issuer of its cards in Armenia.

Ardshinbank's payment card service infrastructure includes 60 branches, 138 ATMs, 670 trade terminals, more than 2000 self-service terminals throughout Armenia.