Fast Shift
Fast Shift is an Armenian Central Bank-regulated e-wallet and payment processor offering a mobile wallet, 1,300+ self-service terminals, and QR payments to Armenian consumers for telecom, utility, retail, and cross-border remittance transactions.
- Company typePrivate
- Founded2018
- HeadquartersYerevan, Armenia
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Fast Shift does
Fast Shift LLC is an Armenian electronic payment and settlement company founded in 2018 and headquartered in Yerevan. The company operates a multi-channel payment infrastructure combining a mobile electronic wallet (iOS/Android), a network of 1,300+ self-service payment terminals across Armenian cities and regions, and a QR payment network integrated with 100+ e-commerce sites and tens of thousands of retail/service points. Its core product covers wallet top-up, bill payment (telecom, utilities, banks), QR retail payments, domestic transfers, and a YoYo sub-brand wallet for minors with parental controls. The company is regulated by the Central Bank of Armenia under License #24 and holds ISO/IEC 27001:2022 and PCI DSS certifications (valid 2026–2028).
Fast Shift is a privately held LLC, jointly owned by Vahé Badalyan and Vigen Badalyan (50/50), with charter capital most recently set at 657,455,446.19 AMD. Revenue is generated through per-transaction commissions from service providers and merchants — fee schedules are not publicly posted and are disclosed at the point of transaction. Distribution is product-led and self-serve: users download the app, complete online identity verification, link a bank card (supported across Fast Bank, ACBA, Ardshinbank, ABB), and transact independently. The 2026 strategic posture has shifted toward international remittances via the UBPay network (corridors to India, Cyprus, Greece, Israel, Kazakhstan, and Uzbekistan) and dominant telecom bill-payment partnerships with all three major Armenian carriers (Viva, Team, Ucom).
Fast Shift firmographics
Firmographics- Name
- Fast Shift
- Legal name
- «Ֆասթ Շիֆթ» ՍՊԸ
- Website
- https://fastshift.am
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Fast Shift is an Armenian Central Bank-regulated e-wallet and payment processor offering a mobile wallet, 1,300+ self-service terminals, and QR payments to Armenian consumers for telecom, utility, retail, and cross-border remittance transactions.
- Ownership category
- akta.pro rank
Fast Shift industry classification
Industry- Product category
- Mobile Payment Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)
- akta.pro secondary industries
- ATM Switching, Routing & Network Services (FSAMAOAD), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)
Keywords
Where Fast Shift is headquartered
LocationHeadquarters
- HQ city
- Yerevan
- HQ country
- Armenia
- HQ region
- Asia
Offices2 records
Markets served
Fast Shift business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Operations, Personnel, Marketing or Sales, Supply Chain
Revenue model
- Payment Transaction Commissions: Fast Shift earns commissions per transaction processed through its terminals, mobile app, and QR payment network. Commission rates are agreed individually with each service provider (telecom operators, utilities, online merchants) and disclosed prior to each transaction.
- International Remittance Fees (UBPay): International money transfers to India and other countries via UBPay generate revenue through exchange rate margins and transfer fees charged to the sender.
- Service Provider Commissions: Merchants and service providers (Viva, Team, Ucom, utility companies) pay commissions to Fast Shift for processing customer payments through the terminal and app network.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Per-transaction fee model — fees vary by service type |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels2 records
Fast Shift product offering
Product offeringCore offering
Fast Shift operates an electronic payment and settlement system in Armenia, offering a mobile e-wallet application (iOS/Android), a self-service terminal network of 1,300+ units, QR-based retail payments, and cross-border remittances through the UBPay network. The company issues electronic money in Armenian Dram, enables bill payments for telecom and utility providers, and supports cash top-ups via terminals and bank card integration.
Product overview
Fast Shift operates as a unified fintech payment platform combining a mobile wallet application with an extensive terminal network across Armenia. The core Fast Shift Electronic Wallet integrates with the UBPay international transfer network, while the separate YoYo sub-brand serves family/micro-transaction needs. Users can access over 1300 terminals, pay 400+ services, and make QR payments at tens of thousands of merchant locations. All operations are conducted in Armenian Dram (AMD) and regulated by the Central Bank of Armenia.
Differentiator
Problem solved
Functional benefit
Brands
- YoYo: A sub-brand mobile application by Fast Shift LLC for users under 18 (minors), allowing parents/guardians to manage accounts and family members to make payments. Operates under its own public offer terms distinct from the main Fast Shift app.
Products and services
- Fast Shift Electronic Wallet Mobile payment application available on iOS and Android enabling balance storage, top-up via cash or bank card, QR payments at merchant locations, domestic transfers, and international remittances for Armenian consumers. Users register with phone number, complete online identity verification, and link bank cards.
- Fast Shift Terminal Network Network of 1,300+ self-service payment terminals across Armenia accepting over 350 types of payments including bank transactions, utility bills, telecom top-ups, and other service payments. Terminals accept cash top-ups without requiring smartphone or bank card ownership.
- YoYo Mobile Application Sub-brand mobile application by Fast Shift for users under 18 (minors) and their family members, enabling QR payments, mobile phone account top-ups, money transfers between family members, mobile charging station payments, and parental account management.
- International Money Transfers Cross-border money transfer service via UBPay network enabling transfers from Armenia to India, Cyprus, Greece, Israel, Kazakhstan, and Uzbekistan. Senders transact in Armenian Dram and recipients receive in USD or EUR.
Quantifiable outcome
- 1300+ terminals accepting 350+ payment types across Armenia
- +1 more outcomes
Companies that use Fast Shift
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
Fast Shift technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature6 records
Fast Shift partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- UBPaycoreFast Shift is the first Armenian payment app to integrate with UBPay, enabling direct international money transfers to India and 5 new countries (Cyprus, Greece, Israel, Kazakhstan, Uzbekistan). Senders transfer in Armenian Dram and recipients receive in USD or EUR.
- Yandex EatsminorJoint campaign offering 2,000 AMD promo codes to users who complete 3 Yandex Eats orders of 5,000+ AMD each via Fast Shift. Campaign runs May 25 – June 26, 2026.
- GlobbingcoreJoint promotional campaign offering Globbing users 50% cashback (up to 4,000 AMD) on account top-ups via Fast Shift, plus 4,000 AMD Poizon.am promo codes. Valid May 14–30, 2026. Cashback credited to Fast Shift wallet by June 15, 2026.
- Viva (Telecom)coreViva entered into an agreement with Fast Shift allowing Viva subscribers to make payments through the Fast Shift app and payment terminals. The deal establishes the commission structure Fast Shift charges Viva for processing payments for the telecom's services.
- Team (Team Holding)coreTeam subscribers can pay for Team services through the Fast Shift app and payment terminals. Partnership enables telecom bill payment processing.
- UcomcorePayments for Ucom services can now be made through Fast Shift, expanding Ucom's collection channels.
Scale indicators5 records
Recent moves8 records
Expansion highlights5 records
Fast Shift competitors and assessment
Company assessmentBroad incumbents
- Remitly: Remitly is a leading digital remittance platform with strong India-bound corridors (one of Fast Shift's launch corridors via UBPay) and a consumer mobile-app delivery model directly comparable to Fast Shift's international transfer offering.
- Euronet Worldwide: Euronet operates a global ATM and point-of-payment terminal network with significant emerging-markets exposure — comparable to Fast Shift's 1300+ terminal network strategy for cash acceptance and bill payments in an under-banked economy.
- Western Union: Western Union operates one of the largest global cash-pickup and account-based remittance networks, structurally analogous to Fast Shift's combination of cash-in terminals and international transfers.
- PayPal: PayPal operates a global digital wallet and payment acceptance platform, comparable to Fast Shift's e-wallet + QR + cross-border consumer-payment offering at vastly larger scale.
- NCR Atleos: NCR Atleos provides ATM-as-a-service, payment processing, and self-service terminal infrastructure for financial institutions, comparable in focus to Fast Shift's terminal-driven payment acceptance model.
- Wise (TransferWise): Wise is a global cross-border A2A payments and FX platform, directly comparable to Fast Shift's UBPay-driven international remittance product in mechanism (multi-currency transfer, FX margin revenue) though at far larger scale.
Direct peers
- Anelik Remittance: Anelik is an Armenian money transfer and remittance provider covering CIS corridors, comparable to Fast Shift's cross-border transfer business via the UBPay integration with overlapping Russia-to-Armenia flows.
- MobiDram (TelCell): MobiDram is the mobile-wallet arm of Armenian mobile operator TelCell, offering e-money, top-ups, and bill payments — a direct in-market competitor to Fast Shift for both consumer wallets and telecom top-up flows.
- Idram: Idram is the leading Armenian e-wallet and payment service provider competing directly with Fast Shift across bill payments, P2P transfers, and merchant acceptance, with very similar mobile-wallet + agent + terminal business model.
- ArCa (Armenian Card): ArCa operates Armenia's national card scheme and processing infrastructure, comparable to Fast Shift as a domestic payment processing and settlement operator with regulated status and bank/merchant integrations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Fast Shift social profiles
Digital presenceFast Shift compliance and trust
Trust signalCompliance3 records
Fast Shift financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fast Shift leadership team
Management profileNumber of profiles
Profiles3 records
Fast Shift funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fast Shift M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fast Shift
What does Fast Shift do?
Fast Shift operates an electronic payment and settlement system in Armenia, offering a mobile e-wallet application (iOS/Android), a self-service terminal network of 1,300+ units, QR-based retail payments, and cross-border remittances through the UBPay network. The company issues electronic money in Armenian Dram, enables bill payments for telecom and utility providers, and supports cash top-ups via terminals and bank card integration.
Is Fast Shift a public or private company?
Fast Shift is a private company. It is classified as family owned and is currently operating.
When was Fast Shift founded?
Fast Shift was founded in 2018. It employs 11 to 50 people.
Where is Fast Shift based?
Fast Shift is headquartered in Yerevan, Armenia, in the Asia region.
How does Fast Shift make money?
Three revenue lines are on record. Payment Transaction Commissions are the primary driver. The others are international Remittance Fees (UBPay) and service Provider Commissions.
Who are Fast Shift's main competitors?
Broad incumbents on record are Remitly, Euronet Worldwide, Western Union, PayPal, NCR Atleos and Wise (TransferWise). Direct peers are Anelik Remittance, MobiDram (TelCell), Idram and ArCa (Armenian Card).
Does Fast Shift have an API?
No public API is recorded for Fast Shift.
What industry is Fast Shift in?
Fast Shift's product category is Mobile Payment Services. Its primary akta.pro industry code is FSAGABAO, POS, SoftPOS & In-Person Acceptance Infrastructure, with a secondary code of FSAMAOAD, ATM Switching, Routing & Network Services. Its NAICS code is 52232 and its SIC code is 6199.