Fast Shift announced its partnership with Idram to join the open QR infrastructure. A memorandum of understanding was signed between the two companies, allowing Fast Shift users to scan Idram QR codes at over 22,500 points of sale using their applications.

“Open QR represents the first initiative for open cooperation in Armenia’s financial market, and we wholeheartedly welcome it. As the first payment and settlement company to join Open QR, Fast Shift is committed to promoting this vision. We aim to lead in fostering a culture of open, trusted partnerships and a customer-centric approach,” said Irina Gasparyan, Executive Director of Fast Shift.

Idram’s CEO, Arsen Kdenian, noted that this is a significant event for Armenia’s financial market: “Clients of all financial institutions connected to the system will be able to use their apps to scan Idram QR codes and make payments at over 22,000 points of sale.”

According to Grigory Yolyan, Commercial Director of Idram, the term “infrastructure” encompasses more than just the technical solution that allows users from other banks or payment organizations to scan Idram QR codes with their applications: “It also involves establishing and enhancing relationships with partner financial institutions and commercial outlets, addressing technical issues, and developing effective customer support mechanisms.”

Companies are supervised by RA CBA.