Volume Down and Value Up in Electronic Payments

Transactions processed by Iran’s electronic payment settlement network, known as Shaparak, declined 1.37% in volume during the last calendar month to March 19. 
The network said it processed 2.28 billion transactions worth 3,281.7 trillion rials ($20.77 billion) during the month to post a 1.22% rise in value, according to Shaparak’s monthly report published on its website.  
The transactions value rose 11.65% compared to the same period last year and in volume terms it showed 2.8% growth annually. 
The report attributes annual hike in the value of transactions mainly to rising inflation, increase in the number of receiving instruments and debit cards plus the growing tendency among the public to use electronic payment tools instead of cash.