The monthly report by Iran's e-payment network, Shaparak Company, shows Saman Electronic Payment company (SEP) topped the list of payment service providers in terms of the volume of transactions in the month to June 20.
SEP, affiliated to Saman Bank, processed 21.06% of the transactions followed by Beh Pardakht Mellat Company owned by Bank Mellat with 19.70%.
Parsian Electronic Commerce Company, affiliated to Parsian Bank, was next with 17.2% followed by Pasargad Electronic Payment 8.93%.
Beh Pardakht Mellat topped the list in value terms with 20.04%. Saman Electronic Payment was next with 16.6% followed by PECCO 11.96% and Sadad Electronic Payment Company 11.59%.
Asan Pardakht, however, maintained the top slot in online payment, thanks to its widely used mobile application and collaboration with major online retail outlets and services platforms. It processed 43% of the transactions via online payment gateways, 1.23 percentage points higher on the month before.
However, the company seems to be mostly processing low-value transactions as it accounted for only 5.43% of the total value of payments. Beh Pardakht topped the list in this regard with 30.68%.
SEP ranked first in terms of total transactions via POS terminals and PECCO topped the list for mobile payment gateways with 21.01% and 45.63%, respectively.
Shaparak data showed that the majority used gateways connected to Saman Bank for paying utility bills.
Twelve PSPs operate in Iran’s digital payment industry and are mostly affiliated to banks. Stringent regulations of the Central Bank of Iran for setting up PSPs have disallowed the emergence of new players in the lucrative market.
Shaparak reflected on PSP performance in terms of the purpose of transactions, putting them in three groups, namely buying goods and services, paying bills and checking bank accounts.
As per the report, PECCO accounted for the least failed transactions in the month. An estimated 3.701 billion retail transactions were processed by the domestic electronic payment network in the third month of the calendar year to June 20.
This was worth 7,251 trillion rials ($22.65 billion) – up 4.24% in volume and 8.6% in value on the month before, the company said on its website.
Collective value of transactions jumped 32.19% on the same month last year when 3.3 billion transactions worth 5,572 trillion rials ($17.41 billion) were reported. In volume terms it was 11.8% higher y/y.
