UPDATE: Aghasi Gevorgyan, Head of Network Infrastructure at Armenian Card CJSC, has issued a stark warning about the future of global payment systems. In a recent interview, he emphasized that the G20’s 2027 targets for improving cross-border payments are in serious jeopardy due to existing infrastructure challenges.
As the backbone of Armenia’s national payment ecosystem, Gevorgyan’s insights are critical right now. The Financial Stability Board (FSB) has stated that deep-rooted issues in multi-vendor, cross-border systems are likely to hinder progress, making it essential for engineers to grasp the complexities of modern payment infrastructures.
With over 20 years of experience in critical financial technologies, Gevorgyan highlighted the pressing need for system and network engineers to master key engineering principles by 2030. His work at Armenian Card has maintained an impressive 99.9% uptime for millions of cardholders, showcasing the importance of reliable systems in financial operations.
Georgian underscored that daily operations reveal underestimated technical challenges that slow down large-scale modernization. He stated, “Every technical choice interacts with audit procedures, security controls, and daily financial operations. Understanding these connections is crucial for achieving meaningful progress.”
As the global payment infrastructure remains fragmented, the implications for engineers are profound. Gevorgyan noted that the fragmentation complicates modernization efforts, leading to potential failures despite the availability of advanced technologies. His insights are not just theoretical; they are drawn from real-world experience, stressing the urgency for structural improvements in payment systems worldwide.
In his interview, he also discussed the critical architectural decisions necessary for maintaining stability under extreme load. “Stability grows from architecture that behaves predictably under pressure,” he asserted. This principle is vital as payments systems face increasing demands during peak periods.
Moreover, Gevorgyan addressed the challenges of maintaining compliance with standards such as PCI DSS and ISO 27001. He emphasized that strong compliance emerges naturally when it is integrated into the daily operations of engineering teams, rather than treated as an external checklist.
With cybersecurity incidents in the financial sector on the rise, Gevorgyan warned engineers to prioritize resilience against modern attack vectors. “Security must be treated as a continuous flow,” he explained. His own team at Armenian Card reduced network incidents by 40% through improved visibility and faster response times.
As we move closer to 2030, Gevorgyan advises engineers to focus on developing skills that bridge technical understanding and business logic. His perspective is clear: the future of payment systems demands professionals who can navigate both complex networks and the business imperatives driving them.
This urgent call to action for engineers comes at a time when the financial landscape is rapidly evolving. Gevorgyan’s insights serve as a crucial reminder of the significant work that remains to be done to prepare for the future of payment systems globally.
As professionals grapple with these challenges, the need for collaboration and innovation in payment infrastructures has never been more critical. The stakes are high, and the countdown to 2027 is on.
