Slight Decline in Volume of Shaparak Transactions

More than 2.26 billion transactions worth 2,534.9 trillion rials ($22.5 billion) were processed through Shaparak, Iran’s payment settlement network, during the last calendar month to October 22.
In volume terms the transactions declined 1.6% and in value registered a 1.18% increase compared to the earlier month, the Shaparak website reported.
Likewise, the transactional volume grew by 22.49% and the value fell 3.14% compared to the same period last year when 1.84 billion transactions with a total value of 2,617.25 trillion rials ($23.26 billion) were processed.
The annual hike in value terms is ascribed mainly to rising inflation and increase in the number of receiving instruments and debit cards plus growing tendency among the public to use electronic payment tools instead of cash.