A consultation was held in the Government chaired by Prime Minister Nikol Pashinyan, during which the possible effects of measures to promote non-cash transactions and alternative mechanisms were discussed.

According to Prime Minister Pashinyan, this year it was recorded that the amount of non-cash payments in Armenia exceed the amount of cash payment. “This is a joyful fact for us, because we said that such a situation would be desirable back in 2018-2019. Of course, we need to understand the reasons, because I also assume that the development of the online trading market, including the presence of a number of large foreign companies in our market, has had a tangible impact. But now it is also obvious to me that the pension refund system has also had some impact. Returning to the refund system in the case of non-cash payments of pensions, family and disability benefits, we come to the conclusion that it might be a good tool for discussing and finding solutions on all kinds of occasions and in all kinds of ways," the Prime Minister said. According to Nikol Pashinyan, the goal of today's discussion is to understand how realistic, effective, and with what tools the refund tool for non-cash payments can be applied in a more expanded manner and to what range of beneficiaries.

Next, the current level, structure, refund mechanisms, principles and main goals of non-cash transactions were discussed, as well as possible ways of financing.

During the exchange of ideas, various recommendations were presented, including the pilot implementation of the refund system within the framework of a new group of beneficiaries.

Prime Minister Pashinyan instructed those responsible to present a relevant project for the promotion of non-cash transactions and the implementation of the refund mechanism based on the results of today's discussion.