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Byblos FlexiPOS is an application for accepting contactless payments, which legal entities and individual entrepreneurs can download to transform a regular smartphone into a POS terminal.
The service can be activated on NFC- and Internet-enabled Android phones. It is designed to accept payments from contactless cards as well as Apple Pay, Google Pay and other digital wallets.
The app is suitable for any type of business, from grocery and vegetable stores to cafes and other catering facilities, from delivery services to small outlets and outdoor stores.
The mobile POS terminal comes with a number of advantages: it is user-friendly, generates electronic receipts instead of paper ones, ensures secure and fast transactions.
The service is designed for legal entities and individual entrepreneurs.
To activate the service, entrepreneurs need to visit one of the Bank's branches, sign the Byblos FlexiPOS application form, as well as a contract at a later stage. (It is important that the Customer provides a valid email address for registering a cashier and/or a senior cashier in the future.)
In order to access the service, a legal entity or an individual entrepreneur must have/open a bank account with the Bank. The terms of account servicing and provision of statements can be found here.
The bank activates the terminal within 3 working days.
In case the customer terminates the contract during the first year ofservice, a penalty of AMD 100,000 will beapplied.
In case the customer terminates the contract after one year of service, no penalty will be imposed if turnover through the mobile POS terminal exceeds AMD 7 million. Otherwise, a penalty of AMD 100,000 will be applied.
Before making any transaction businesses need to make sure that:
- The card is not damaged, not cut and glued together or repaired, no visible damage can be seen.
- The 16 digits on the obverse of the card, the Cardholder's name, and the expiration date are legible.
- The card has not expired. (The card is valid until 12am on
the last day of the month stamped on it).
- The signature of the cardholder is present on the reverse side of the card.
If the card is determined to be fake or not belonging to the person making the payment, the transaction must be rejected, while the card should be confiscated, if possible.
When accepting payments through the terminal, businesses are forbidden to store, process or transmit payment cardholder data to third parties or use it for any other purpose.
| Card type | Tariff |
|---|---|
|
ArCa
|
1.3%
|
|
Mastercard and Visa issued in RA
|
1.5%
|
|
Cards issued outside RA
|
2.2%
|
If a legal entity or an individual entrepreneur has an account with the Bank, they only need to submit proof of address (if it hasn't been provided to the Bank earlier). If not, they must also submit documents necessary for opening an account.
Restrictions on the accountholder to handle the balance of the account, as well as the debiting of the account without the instruction of the account-holder is possible under a court order, based on the decision of the Judicial Acts Compulsory Enactment Service or tax authorities.
According to the law of the RA on Combating Money Laundering and Terrorism Financing and for the proper investigation of the client's profile, the Bank can obtain additional documents or other information as per the Know Your Customer principle, as well as ask additional questions during communication (if need be).
According to an agreement with the United States of America regarding the Foreign Account Tax Compliance Act (FATCA), the Bank may request or gather additional information in order to identify the Borrower’s status as a U.S. taxpayer.
After signing the housing loan contract, you may communicate with the Bank by post or e-mail. The most convenient way for communication is the e-mail, which is available 24/7: the risk of information loss is eliminated, and secrecy is ensured.
