iDram Allows PayPal’s Armenian Users to Cash Accounts

iDram allows Armenian users to transfer and withdraw money from their PayPal accounts


YEREVAN (Arka)—PayPal’s Armenian users will be able to cash their accounts by using Yerevan-based iDram’s payment system, iDram executive director Gayane Stepanyan said Wednesday.

“From now on, a PayPal account can be converted into electronic iDram money and cashed easily. This unique opportunity is unprecedented in Armenia. We were able to put this idea into practice through a lot of effort in a long process,” Stepanyan said at a press conference.

She said a special website – paypal.idram.am – was created for Armenian PayPal users to cash their accounts. She added this takes a few minutes only.

According to her, in the near future Armenian users will be given the opportunity to transfer money from their iDram accounts to PayPal purse.

Stepanyan noted that in addition to PayPal, Armenian users may use also iDram to cash their accounts in Google Wallet and WebMoney electronic payment systems.

She also noted that in the near future, thanks to iDram’s collaboration with the American ePrime Global, international payment services will become more accessible to Armenian users.

“Cashing of international electronic money accounts has always been a problem in Armenia. Thanks to our cooperation with ePrime Global Armenian electronic money may soon be converted into any foreign currency. At the same time Armenian users will use iDram to get access to many other international services,” she added.

Stepanyan also said that by its 10th anniversary, iDram is going to introduce new innovative and unprecedented offers to the Armenian market.

iDram was established in 2008. In December, 2009, it was granted a license by the Central Bank of Armenia to make money transfers, and in March, 2012, it was permitted by the regulator to issue the first Armenian electronic money.

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