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YEREVAN. – Even though PayPal considers Armenia to be a very small market, the Central Bank of Armenia (CBA) continues the talks toward fully implementing this system in the country, CBA Deputy Chairman Vakhtang Abrahamyan told Armenian News-NEWS.am.

Abrahamyan noted that the CBA, for its part, has created the necessary legal framework for worldwide payment systems. Subsequently, PayPal, as a private company, itself decides on the markets where it will operate.

“The issue is not about the financial risks in Armenia,” he stated. “It’s just that, like I said, Armenia is so far considered a relatively small market; they explain it this way.”

And to the remark that PayPal is in full operation in Georgia which matches Armenia in scale, Vakhtang Abrahamyan responded: “This is another counterargument that we present in the negotiations with them.”

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