by Erik Abrahamyan
ACBA-Credit Agricole Bank has announced a CASHBACK QUEST competition for the American ExpressR Cashback cardholders. The press service of the Bank has told ArmInfo that the citizens and residents of Armenia above 18 have an opportunity to receive 10 money prizes worth 150 thsd AMD each, as well as the main prize worth 1.5 mln AMD.
The source says that to participate in the contest one should register at www.cashbackcard.am before 12 September 2014 and apply to the Bank for an American Express Cashback card. The first year of service will be free for all the participants. The CASHBACK QUEST contest starts on 27 September and will last till October 17, 2014. The contestants will be given various tasks. After settling each task, the participants will earn bonus points, and the participant with the biggest number of bonus points will be the winner. The more tasks are settled, the more bonus points are accumulated. Further information is available at www.cashbackcard.am.
To remind, in July 2014 ACBA-Credit Agricole Bank and American Express announced the issue of the American ExpressR Cashback card, which is an innovative product allowing the cardholders to manage their funds and accumulate compensations by CASHBACK payments. CASHBACK makes the daily purchases of the cardholders more profitable because it covers all purchases made in Armenia. The holders of American ExpressR Cashback cards offer 1% cashback for all point of sale transactions made in Armenia or 2% cashback for all transactions in a number of supermarkets in Yerevan and regions of Armenia. The American ExpressR Cashback card is the first American Express card in Armenia, which can be provided without any credit line.
According to the Analytical Review "Armenian Banks in Card Business" prepared by ArmInfo, ACBA-Credit Agricole Bank initiated the introduction of American Express cards and opened a new field for development of the card market in Armenia. At the initial stage (in March 2010) the Bank received the right to service the AmEx cards in the trade outlets of Armenia. Afterwards, it became the exclusive agent of American Express and on 23 November 2010 the Bank launched the issue of American Express Gold cards. In October 2011 ACBA-Credit Agricole Bank introduced an unprecedented card product in the Armenian market - American Express Blue Card (AmEx Blue). Along with it, ACBA-Credit Agricole Bank issues and services local ArCa cards and international Visa and MasterCards. By the number of active ArCa cards, the Bank is among the TOP-3, and by the number of Visa and MasterCards it is among the TOP-5. The Bank is ranked 2nd in terms of plastic transactions and it is in the lead in the number of ATMs and POS terminals (187 and 1210, respectively).