Business And Markets

Shaparak Transactions Near $21b

Shaparak Transactions Near $21bShaparak Transactions Near $21b

The nationwide payment settlement network, known as Shaparak, processed more than 2.25 billion payments worth 2,790.8 trillion rials ($20.98 billion based on open market currency rates in Tehran) in the last calendar month to December 21.
Transactions rose 10.63% in value and 1.42% in volume compared to the 2.22 billion transactions valued at 2,522 trillion rials ($18.96 billion) handled by Shaparak a  month earlier. 
On year-on-year basis, the transactions increased  21.78% and 39.51% in volume and value, respectively, though the increase in value could be partly attributed to the rise in inflation. 
In the same vein, Shaparak ascribed the annual increase in the number transactions to rise in payment receiving instruments and debit cards plus growing tendency among the public to use electronic payment tools instead of cash.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment