Proceedings of the International scientific and practical conference ―Synergy of Modern Science and Education‖ (February 2-4, 2026) / Publisher website: www.naukainfo.com. – New York, USA, 2026. - 324 p.

38 As we can see from the data presented in Figure 1, the number of digital cards in circulation in Armenia has increased dramatically over the past five years. In 2020, the number of cards amounted to 66,727 cards, and in 2021, the number of cards increased by 90.8% to 127,334 cards. In 2022, the number of cards increased again to 303,023 cards, which is 137.96% more than in 2021. In 2023, the number of cards increased by 177,064 cards, reaching 480,087 cards., However, the growth rate decreased compared to 2022, amounting to 58.44%. In 2024, the steady growth in the number of cards continued, and compared to 2023, the number of cards increased by 490,907 cards, or 102.26%, bringing the number of digital cards in circulation to 970,994. It should also be noted that in the period from 2020 to 2024, the number of payment cards of all types was constantly growing. 2020 ․ -the number of payment cards in circulation in Armenia by Tosca banks amounted to 9,893,036, 2021թ ․ -to 10,448,132 cards in circulation, 2022թ ․ -to 11,760,495 cards, 2023; and-to 14,125,840 cards in 2024: the number of cards increased by 14.64%, amounting to 16,195,599. Along with the growth of shared and virtual cards, the share of virtual cards in the total composition of cards has also increased. In 2020, digital cards accounted for 0.67% of the total number of cards, in 2021 digital cards accounted for 1.21%, The share of digital cards was 2.57% in 2022, 3.39% in 2023 and about 6% in 2024[7]. Despite the fact that digital cards do not account for such a large proportion of the total number of cards in circulation, it should be noted that the digital card culture is new to the Armenian market and has recently been introduced in a number of banks, therefore, taking into account this circumstance and the above calculated indicators, one can observe trends of rapid and continuous growth. The growth of digital cards is also facilitated by new services being developed by banks, which are aimed at increasing the turnover of digital cards. As we can see, the number of digital cards has been growing steadily over the past five years, which indicates a significant difference. The reasons for the growth are related to the development of digitalization of the banking sector, the gradual creation of digital cards in all banks as a result of competition, the spread of