Yerevan/Mediamax/. “Araratbank” announced today the introduction of Autocards, which fulfill the functions of a coupon for purchasing car fuel (via Petrol Plus system) and a Visa bank payment card.

Mediamax reports that, speaking at the presentation of the new service in Yerevan today, “Araratbank” Chairman of the Board Ashot Osipyan stated that as a combination of a bank plastic card and a card of Petrol Plus system, Autocard is a novelty in the Armenian market and allows substituting the current coupons for purchasing car fuel by modern plastic cards.

Autocards function in the system of Petrol Plus basing on the principle of prepaid cards. Autocards can be purchased in all the branches of “Araratbank” and can be filled in fuel stations, where there are POS-terminals of Petrol Plus system. At present, the customers can use the service in the system of “Flesh” Company’s fuel stations system, which is the largest oil trader in Armenia and the main shareholder of “Araratbank”. According to Ashot Osipyan, after testing the system, which will last for about a month, the service will spread to other fuel stations of Armenia and NKR as well, and further on – in Georgia.

Bank Chairman stated that by purchasing a large volume of fuel via Autocard, the customers insure themselves against change in the price, “which has been mainly increasing since 2000”. Ashot Osipyan also noted that the reports, regularly presented by the bank, will help customers operatively analyze, control and optimize their own system of calculation as to purchase of fuel for the vehicle fleet.

According to “Araratbank” assessments, by the end of the year the bank will issue 10 thousand Autocards, and the share of corporate customers of this service will make about 70%. Petrol Plus technology is used by over 800 organizations in 13 countries worldwide.