Electronic Payments Back to Business

Transactions processed by Iran’s electronic payment network (Shaparak) shot up in the last calendar month to May 20 as businesses gradually opened after lockdowns over the coronavirus pandemic eased. 
Shaparak processed 2.60 billion transactions worth 3,977.41 trillion rials ($23.26 billion) during the month. That was 35.6% higher in volume and up 101.02% in value compared to the month before that coincided with the annual Nowrouz (Persian New Year) holidays.  
While the steep increase in electronic payments is normal in the month after the two-week holiday, Shaparak data show that the monthly increase in transactions doubled the growth reported for the similar month last year (April-May 2019) when monthly value and volume of transactions registered 50% and 17% hike, respectively.