What Idram does

Idram is an Armenian electronic money institution and digital payment platform founded in 2004 and headquartered in Yerevan. It operates an e-wallet and online banking portal (Idram&IDBank app) that lets individual consumers and businesses send transfers, pay utility, mobile, internet, TV, parking, tax, traffic-fine and loan bills, and execute QR and NFC contactless payments. The platform aggregates approximately 400 billable services and integrates directly with IDBank for card issuance (Rocket Visa/MasterCard), account synchronization, loan origination, and deposit opening, effectively functioning as the consumer-facing retail layer over IDBank's regulated balance sheet.

Technically, Idram is a multi-channel payment processing stack: a web and mobile banking portal, an e-wallet with tiered KYC (Unidentified, Premium, Premium Plus) and differentiated transaction limits, a QR-code acceptance network covering 25,000+ in-store merchant points (over 90% national QR market share), NFC contactless capability, card-to-card transfer rails, and a merchant gateway used by 70+ Armenian online retailers. Top-up channels include bank cards, bank accounts, Idram branches, partner terminals, other e-money systems, and loan-financed funding. Rocket Line provides buy-now-pay-later credit integrated into the payment flow.

Commercially, Idram monetizes primarily through transaction fees on transfers and payments: 0% on monthly transfers up to 1,000,000 AMD, 0.5% on 1–3 million AMD, and 1% above that; 1% on card-to-card transfers; and flat fees of 100–300 AMD or 0.7% on bank-account transfers. Many utility and mobile top-ups carry 0% commission, used as customer-acquisition hooks. Distribution is digital-first (app and web) with cash-in via Idram branches and terminal partners. In October 2025 Idram added Bybit Pay crypto-to-fiat QR payments at its 25,000+ merchant points, and in November 2025 it connected to TenPay Global / Weixin Pay for cross-border flows — both signals of geographic and vertical expansion beyond domestic Armenian bill payments.

Name

Idram

Legal name

Idram Limited Liability Company («Իդրամ» սահմանափակ պատասխանատվությամբ ընկերություն)

Website

https://idram.am

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Idram is an Armenian e-money and digital payment platform that lets consumers and merchants send transfers, pay ~400 utility and government bills, and execute QR/NFC payments across 25,000+ retail points, operating as the dominant domestic wallet with IDBank-integrated banking and card services.

Ownership category

akta.pro rank

Product category

Digital Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Digital wallet services
• Mobile payment platform
• QR code payments
• Money transfer services
• Utility bill payments

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Transaction/Merchant Fees: Idram charges commission fees on various transactions including money transfers, payments, and withdrawals. Transfer fees are tiered based on monthly transfer volumes: 0% up to 1,000,000 AMD, 0.5% for 1,000,001-3,000,000 AMD, and 1% above 3,000,000 AMD. Various services charge flat fees (100-300 AMD) or percentage-based fees (0.7-2%) depending on transaction type and amount.
2. Utility and Service Payments: Many services (mobile top-up, utilities, TV) charge 0% commission, acting as customer acquisition. Revenue may come from volume-based arrangements with service providers.
3. Card-to-Card Transfers: 1% commission fee for card-to-card transfers with transfer time up to 5 minutes (except IDBank cards)
4. Merchant Integration Services: Online merchants pay for integration to accept Idram payments, providing revenue through transaction processing

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Idram operates an electronic money wallet and payment platform in Armenia that lets consumers pay utilities, mobile/internet/TV bills, taxes, fines, parking, and loans; transfer funds between Idram accounts, bank accounts, and cards; and make QR code and NFC payments at over 25,000 merchant points. The platform is integrated with IDBank for co-branded Rocket Visa cards, loan origination, and account synchronization, and it extends to cross-border crypto retail payments via the Bybit Pay integration.

Product overview

Idram is a digital payment ecosystem consisting of the Idram Online Payment System (core e-wallet and payment platform) and the Idram Banking Portal (online banking interface). The system supports utility bill payments, mobile/internet/TV services, loan repayments, government payments (taxes, fines, parking), money transfers between Idram accounts and bank accounts, QR code and NFC contactless payments, and co-branded payment cards (Rocket Visa) through IDBank partnership. Key modules include the e-wallet with top-up via multiple channels, QR payment network holding 90%+ market share in Armenia, Rocket Line BNPL feature, and integrated loan services. The Bybit Pay integration enables cryptocurrency QR payments at 25,000+ retail locations.

Differentiator

Problem solved

Functional benefit

Brands

• Idram&IDBank: Mobile banking application combining Idram e-wallet and IDBank services
• Idram Rocket Visa Card
• Rocket Line

Products and services

• Idram Digital Payment System

Quantifiable outcome

• 90%+ QR payment market share in Armenia
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• BybitcoreStrategic or Co-development Partner · 22 October 2025Strategic partnership launching Bybit Pay integration with Idram's digital payment network. Enables users to make QR code payments at over 25,000 in-store points in Armenia, boosting crypto payment accessibility. Launch ceremony took place on October 22, 2025 in Yerevan, marking significant expansion of crypto payment infrastructure in the region.
• IDBankcoreStrategic or Co-development PartnerDeep integration with IDBank allowing account synchronization, card management, remote banking services, loan applications, deposit opening, and card ordering through Idram interface. IDBank logo appears on Idram banking platform.
• Telecommunications Providers (Viva, Ucom, Team Telecom, and others)coreGTM or Marketing PartnerMobile operator partnerships enabling mobile top-up services, internet payments, and TV services. Operators include Viva, Ucom, Team Telecom, HiLine, Interactive, OVIO (Rostelecom), Arpinete, Yournet, V Telecom, ARMCOM, KiberNet, FNet Telecom, Regionet.
• Utility Service ProviderscoreGTM or Marketing PartnerPartnerships with electricity, gas, water, and heating providers enabling utility bill payments through Idram platform with 0% commission.
• Online Merchants (idealsystem.am, officemarket.am, liveauction.am, emex.am, and 70+ more)minorChannel Partner/ Reseller/ DistributorOnline stores integrated with Idram payment gateway across various categories including electronics, books, jewelry, discount platforms, auto/real estate, insurance, charity, mobile, and programming services.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• UPay: UPay is an Armenian electronic money and payment platform offering utility payments, mobile top-up, money transfers, and merchant acquiring — directly competing with Idram across the same domestic use cases and named alongside Idram in Central Bank of Armenia wallet restrictions.
• Telcell: Telcell is one of Armenia's longest-running electronic payment terminals and online payment systems, offering utility bill payment, mobile top-up, and merchant POS services — overlapping almost entirely with Idram's core payment and acquiring business.
• Kaspi.kz: Kaspi.kz is a Kazakhstani super-app combining payments, marketplace, and fintech (BNPL, cards, loans). It is the closest large-scale analog to Idram's "wallet + banking + merchant + credit" model and competes for the regional playbook Idram is pursuing.
• QIWI: QIWI operated a CIS-region e-wallet and payment processing network (including Armenia exposure) with tiered KYC wallets, QR acquiring, and merchant acquiring — directly comparable to Idram's e-money wallet, QR network, and tiered account structure.
• YooMoney (formerly Yandex.Money): YooMoney is a Russian e-wallet and online payment gateway offering utility payments, money transfers, and merchant acquiring — closely mirroring Idram's wallet + utility-aggregator + merchant gateway model in a neighboring geography.

Broad incumbents

• Revolut: Revolut is a global neobank offering multi-currency accounts, card-based payments, peer-to-peer transfers, and merchant acquiring across 30+ countries — a broader incumbent playing in the same digital payments/wallet category Idram serves domestically.
• Wise (formerly TransferWise): Wise is a global cross-border payments specialist offering multi-currency accounts and remittance — directly comparable to the cross-border functionality Idram is building via its TenPay Global / Weixin Pay integration.
• PayPal: PayPal is a global digital wallet and online payment gateway for consumers and merchants, providing a benchmark for Idram's online merchant acquiring and international acceptance ambitions.
• Alipay: Alipay is a global-scale digital wallet and QR payment network operated by Ant Group — directly comparable to Idram's QR-led consumer-to-merchant model and the benchmark for the cross-border wallet strategy Idram is enabling via TenPay Global.

Regional players

• TBC Bank (Georgia) / TBC Pay: TBC Bank is a leading Georgian bank with a digital payments and merchant-acquiring platform spanning mobile top-up, utility payments, and QR acquiring — a Caucasus-regional analog showing how a neighboring market's incumbent payments layer is structured versus Idram's model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/idram.am

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Idram