Inecobank to transform Armenia’s digital payment environment with innovative InecoPay system

On July 25 Inecobank unveiled the innovative and modern payment solution InecoPay in Armenia, as a result of which the mobile payments will not exceed more than 20 seconds.

“A few simple steps and no need to worry about cash at hand, loosing wallet, wrong amount input at the payment desks or giving the card to another person,” the bank commented.

To use InecoPay solution, users need to login in to their InecoMobile application, click on “InecoPay”, scan the payment QR code, input the payment sum and pay.

“Furthermore, the system enables users to easily transfer money to their by just scanning their personal QR codes and even leave a tip to waiters,” added InecoBank.

“Over the past 22 years we have developed and introduced modern, convenient and secure digital banking tools and solutions to the financial and banking system of Armenia with one aim: to provide more customer-oriented services to our clients. Today, being one of the leaders in the digital banking sphere, we introduce InecoPay – a secure and convenient QR payment solution, which can be used right via the InecoMobile application. We have already established cooperation with more than 70 companies in the fast food, service, electronics, clothes and pharmacy industries, the coverage of which exceed 200 sales and service points. The list is regularly updated and can be viewed on the official pages of the bank. We are sure that our customers will enjoy the simplicity and speed of InecoPay payments,” said Aren Naltakyan, the Development and Marketing Director of Inecobank.

You can find more detailed information on the system on InecoPay official webpage.  

Inecobank CJSC is a leading bank in the South Caucasus, which focuses on individual customers, small and middle market businesses and large corporations offering a full range of commercial banking services including break through and innovative digital banking solutions. For over 22 years the bank has been providing unmatched convenience in Armenia, serving more than 400 000 customers and over 100 000 online users.  

Inecobank developed and delivered industry-leading digital banking solutions with the purpose of introducing an entirely new culture of banking services.

- In 2009, the bank digitalized and fully automated the “Point of Sale Loan” product, reducing the loan generation time from 3-4 days to a few minutes.

- In 2012, with the introduction of InecoOnline, the bank was one of the first to provide 24/7 banking services to its customers.

- In 2014, the bank launched InecoMobile, its Mobile banking application, which is the most popular banking application in Armenia with over 100 000 users.

- In 2017, the bank was the first to introduce a fully automated consumer lending solution through its mobile and online applications, which generates consumer loans 24 hours a day, 7 days a week.