Business And Markets

Shaparak Payments Down 2.2%

Shaparak Payments Down 2.2% Shaparak Payments Down 2.2%

Iran’s payment settlement network, Shaparak, processed 2.2 billion transactions during the month to January 20, down 2.24% in volume compared to the earlier month.
The transactions rose by 0.82% in value to reach a total of 2,813.72 trillion rials ($21 billion) as of Jan 20, according to a report on the Shaparak website. 
On a y/y basis, volume and value of transactions rose respectively by 18.87% and 37.83%. The increase is ascribed partly to rising inflation, which by nature push up the value of transactions.  
Increase in the number of receiving instruments and debit cards plus growing tendency among the public to use electronic payment methods instead of cash are also attributed to the rise in annual transitions. 


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