The turnover of CONTACT international system of money transfers and payments significantly increased in Armenia during the first quarter of 2010 as compared with the same period of last year, the press service of CONTACT reported.

The amount of money transfers through CONTACT in Armenia recorded a $2mln average growth in January, February and March, as a result of which, the quarterly index was 7% higher as compared with the same period of 2009.

“The commissions that were decreased in the end of 2009 and wide net of service points in Armenia have served as a ground for growth in transactions number and amount,” said Nikolay Gusman, the President and Chairman of the Board of RUSSLAVBANK.

According to him, CONTACT is one of leaders at the country’s market of money transfers. Armenia’s Post and majority of Armenian banks cooperate with the system. CONTACT services are available in over 1000 service points and 600 localities throughout the country.