The Status of Socially Recognized System Was Granted to UNISTREAM by Armenia

15.05.2015 The confidence in the Russian system of international money transfers UNISTREAM is growing in CIS countries. In April 2015, UNISTREAM was recognized as a socially valued system in Armenia.

The Central Bank of Armenia granted to UNISTREAM the status of socially recognized payment system. In accordance with the regulatory documents of the Central Bank of Armenia, a payment system is recognized as having a social value and ensuring uninterrupted operations in the country’s territory provided it meets a number of below criteria:
- transactions on financial markets are made via such system, or
- such system is the only system in the Armenian Republic to make settlements regarding specific payment types, or
- at least in two quarters out of the four quarters of the reporting calendar year, the aggregate amount of money transfers accepted and dispatched through the system exceeds 10% of the total volume of money transfers made through all the systems operating in the country during the same period of time.

UNISTREAM has been operating on the Armenian market since 2001; it was one of the first directions of the system money transfer operations. By the volume of outgoing money transfers, UNISTREAM is ranked first on the Armenian market (USD 237 mn in 2014), and third by the volume of incoming money transfers (USD 1.63 bn). 

Today UNISTREAM has 18 partner companies in Armenia including 16 banks, with the largest partners being VTB Armenia, Unibank, AraratBank, ArmBusinessBank, ArmEconomBank, ArdshinBank, Akba Credit Agricole Bank, KonversBank.

In Armenia, UNISTREAM offers a number of services unique for the local market: instant money transfers in national currency, top-up of VISA and MasterCard card accounts using the card number (Cash2Card), SWIFT cross-border transfers, Universal Payment service (account top-up or loan repayment, state budget mandatory payments, payment of late payment fees and charges, payment of educational or medical bills, insurance premium payments, etc.)

“The status granted to us proves the stability of the UNISTREAM System on the Armenian market, and its reliability and importance for this country, comments CEO of UNISTREAM Bank Kirill Palchun. Improving our technology constantly, we do not forget about supporting uninterrupted operations, high quality service and a wide product range for our customers. We are happy that both our partners and other countries in whose territory we are active feel even more confidence in UNISTREAM in conditions of general global financial instability."

UNISTREAM International Payment System of Money Transfers is one of the most popular systems in Russia and CIS countries. Besides the conventional money transfer services, UNSTREAM offers to its customers at present a wide range of convenient and reliable payment services meant to satisfy their daily needs.
Most financial operations we face every day have become accessible with UNISTREAM on a one-click basis including money transfers, loan repayments, account & deposit top-up, mobile phone account top-up, utility payments and many other things.

UNISTREAM International Payment System of Money Transfers operates in almost 200 countries of the world through over 300 thousand outlets including self-service terminals. UNISTREAM has proprietory networks in Greece, UK and Cyprus. Over 460 financial institutions worldwide are partners of the System.

UNISTREAM is a co-founder of the National Payment System founded under the auspices of the Central Bank of Russia and the Association of Russian Banks.

On 25.02.2015, CBR granted to UNISTREAM the status of nationally recognized payment system.