In a strategic move aimed at strengthening its presence in the Armenian financial landscape, Mastercard announced the appointment of Arsenya Elchyan as its new Country Representative.

Mastercard Armenia reported that with an extensive background in banking and a proven track record of driving growth in card products, Elchyan’s appointment marks a significant milestone for both the company and the industry.

“Drawing from her wealth of experience and expertise, Arsenya now assumes the role of Country Representative at Mastercard Armenia, where she will lead the charge in driving the company’s strategic objectives and fostering collaboration with key stakeholders in the Armenian market. In her new capacity, she will spearhead initiatives aimed at expanding Mastercard’s footprint in Armenia, with a particular emphasis on promoting the adoption of digital payment solutions and enhancing the overall customer experience. Leveraging her background in product management, Elchyan will play a pivotal role in shaping the company’s card product strategy, ensuring alignment with market dynamics and consumer preferences.

She will be tasked with forging strong relationships with financial institutions, merchants, and government entities, with the aim of driving mutual growth and innovation in the payments ecosystem,” Mastercard Armenia said in a news release.

“I am thrilled to join Mastercard Armenia and contribute to its mission of advancing digital payments and financial inclusion in the region. I look forward to working closely with our partners and stakeholders to drive innovation and create value for our customers,” said Arsenya Elchyan.

David Zgudadze, Vice President of Mastercard in Georgia and Armenia noted that “it’s definitely the time of unprecedented transformation in the financial services industry, with digitalization and innovation at the forefront of strategic agendas.

We’re absolutely confident that with our new Country Representative we’ll strengthen our position as a leading provider of payment solutions in Armenia, driving sustainable growth and delivering tangible benefits to consumers, businesses, and the economy at large. Her proven ability to navigate complex market landscapes and drive meaningful change positions her as a catalyst for Mastercard Armenia’s continued success and growth.”

“After several years of being presented on the market, Mastercard Armenia established the local office and has the local Country Representative and it’s the strategic investment in leadership and innovation, underscoring the company’s commitment to driving positive change and shaping the future of payments in Armenia,” the news release reads.