In November 2022, right after receiving a banking license from RA Central Bank, Fast Bank applied for Visa International membership license to provide card issuing and acquiring services.
In May 2023, Fast Bank received a membership license as a result of close cooperation with Visa International.
“We are happy for this important achievement, as this license allows us to take another step in the implementation of banking products and get closer to our goals. We continue to actively cooperate with Visa in order to start issuing cards as soon as possible”, Rina Harutyunyan, Head of Card Technologies Service of Fast Bank said.
After receiving the membership license of Visa International, Fast Bank has started the work on providing the necessary infrastructure, in particular, the installation of ATMs.
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The bank continues working closely with the Visa to start card issuance and launch acquiring services as soon as possible. Fast Bank is also actively working on the development and implementation of other banking products.
“Partnership with fintech companies plays fundamental role for Visa not only because of business development but this is also direct path to drive innovative solutions jointly with agile and full of curiosity challengers. Visa profound experience in payments and wide technology stack combined with innovative DNA of new players on financial market inevitably will lead to nascence of disruptive products. We believe that Fast Bank in Armenia is exactly such type of partner”, Yevgen Lisnyak, Visa Senior Director, Head of Strategic Partnerships, Fintech and Ventures in CISSEE said
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.