Credit Card Use Shows Growth

Credit cards seem to be gaining traction among Iranians. The total number of active credit cards is close to 80,000. However, comparing this number to the previous month shows 121.13% growth.
A report by Shaparak Company, the Central Bank of Iran affiliate in charge of supervising domestic e-payment network, shows most private lenders are not keen in the credit card business.
Bank Mellat accounts for 37% of the total credit cards,  Bank Saderat Iran and Bank Melli Iran are next with 14.79% and 13.4%. Bank Sepah, Post Bank Iran and Cooperatives Development Bank (all owned by the government) were the other issuers. 
Bank Saman and ENbank were the only private banks with a relatively considerable share of the total credit cards with 7% and 3.4%, respectively. 
The appeal of credit cards in Iran is likely to grow as lenders' reluctance to give microloans leave customers  no choice but to resort to credit. 
The government recently said ‘Justice Shares’ can be used as collateral for getting credit cards from banks. 
Justice Shares are shares of government-owned companies that were given to the six lowest income deciles of Iranians ten years ago. Shareholders were not allowed to sell the shares until recently.  
Total number of bank cards with at least one transaction during the month to May 21 registered a monthly growth of 12.8% to reach 108.5 million. 
Shaparak data also indicates that debit cards still account for the largest portion of active bank cards–with 95.24% share.
The state-owned Bank Melli Iran, the biggest lender, alone accounted for 22.56% of active bank cards during the one-month period. Bank Saderat Iran and Bank Mellat came after with 11.37% and 11.35%, respectively.