Economics

Armenia, Russia to implement “Forsage” money transfer system

HayPost and Russian Post have signed an Agreement to implement “Forsage” express money transfers system between Armenia and Russia.

According to the Agreement, HayPost and Russian Post will connect their Post Offices, 44.000 in Russia and 900 in Armenia, through “Forsage” system.

This system, new for the Armenian market, will allow the population to send and receive money transfers fast and at very competitive rates from any Post Office in Russia to any Post Office in Armenia and viceversa, including those in the most remote rural areas.

The operations are planned to be launched in the first quarter of 2015.

Also, within the framework of this Agreement, the National Postal Operators of Armenia and Russia agreed to develop the e-commerce between the two countries.

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