Idram commercial director Grigori Yolyan said that “Idram not only has the largest coverage in Armenia, but is also the most popular payment method.”

“Using the Idram&IDBank application, you can already make payments at about 17․500 points of sale. I think our users will confirm that today it is already possible to use almost all the services available in Armenia. We are also increasing the number of merchants with Idram payment option also thanks to the active support of our users, as they prompt both us and those merchants that do not yet have Idram payment option to provide this opportunity.

Idram is already widespread in almost all marzes: the largest coverage is in Shirak, then in Lori, but we continue to work towards all marzes,” Grigori Yolyan said.

He noted that they launched the “No cash” campaign in 2020, but “in fact, much earlier, we talked about the fact that cash is no longer modern if there is a payment method like Idram”:

“Of course, saying “no cash” when you still have about 2,000 points of sale where you can pay for Idram, and saying when the number of these points is already about 17․500, you see, these are completely different things (smiles - ed.). We were sure that the future belongs to cashless and contactless payments, where QR payments play their irreplaceable role, and indeed, contactless payment is more convenient than cash and even cards. The number of daily QR payments has increased by almost several dozen times compared to 2020.”

Grigori Yolyan said that Idram’s cooperation with any point of sale is mutually beneficial:

“Since Idram is the most popular financial app in Armenia, we have over a few hundred thousand active users and it is only natural that most of them prefer to make payments with Idram. If a few years ago the Idram sales department tried to attract new points of sale, now this process is two-way. From the point of view of points of sale, the possibility of paying by Idram is not only a tool for loyalty to its customers, but also aimed at increasing sales.

In 2020, Idram and IDBank were the first in Armenia to introduce Rocket Line digital installment plan, which is a financial instrument that works on the principle of “Buy now, pay later” and is gaining wide popularity in the world. On the one hand, this frees our users from unnecessary trouble, because the bank approves a certain limit for them in advance, and there is no need to submit documents and wait a long time for loan approval. On the other hand, it is a revolutionary tool for merchants, because paying with Rocket Line is technically no different from a regular payment with Idram, and the buyer takes only two or three additional steps and makes an instant purchase.

If the point of sale chooses the Rocket Line 0% cooperation option, then this is an additional big incentive for sales, because buyers get the opportunity to buy goods at this very moment, paying exactly the same price and not a penny more, up to 12 months. Currently, the number of such points of sale is about 6,000.

IDBank and Idram were the first in Armenia to introduce the “Buy Now, Pay Later” format. At first this was perceived by our society rather hard, and for comparison, it must be said that in the next year Rocket Line contracts were signed 7 times more than in the first 6 months of the product launch. Today, Rocket Line has become a daily tool for our users. Everyone uses Rocket Line according to the needs of the moment, adapted to their lifestyle. Since the launch of the product, about 2.2 million contracts have already been concluded, that is, over the past 3 years this tool has been useful to our clients as many times.”

Speaking about Idplus loyalty platform, the commercial director said that it has converted the bonus cards known to all of us into a digital field and gives bonus points at more than 1100 points where it is possible to pay by Idram:

“They are automatically accumulated on the digital bonus card of this point of sale. What does it mean? If you download the Idplus application, you will see that it combines a number of advantages. At the same time, no additional actions are required on the part of the buyer and the point of sale to issue a bonus. All operations are automated, both in the case of Idram and with all services provided by partners,” Grigori Yolyan said.

Referring to the recently created Idram Junior app for children and teenagers up to 16 years old, he noted that with this Idram is also taking responsibility for raising a financially literate generation.

Grigori Yolyan stressed that the ecosystem built with their strategic partners already allows them to assert that Idram is a set of convenient, fast and applicable payment instruments:

“It solves a number of issues for its users and partners. We are working to expand this great ecosystem, develop functionalities and are open to any cooperation, as well as other players in the market, which I assure you will only work in a win-win format, because we love to say that Idram is for everyone.”