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Small Increase in E-Transactions

Small Increase in E-Transactions Small Increase in E-Transactions

Shaparak, the main payment settlement network in Iran, processed 2.92 billion transactions worth 4,875.12 trillion rials ($16.25 billion) in the last calendar month to Sept. 21.
Compared to the month before, it was up 0.82% and 2.23% in volume and value, respectively, according to the monthly report published on Shaparak website.
The transactional value rose 94.5% compared to the same period last year when 2.30 billion transactions worth 2,505.36 trillion rials ($8.35b) were processed. In volume terms it showed 27.59% growth on an annualized basis.   
The report attributed the surge in the value of transactions mostly to galloping inflation. As for other factors, Shaparak referred to the increasing number of receiving instruments, debit cards plus the growing tendency to use other payment methods instead of cash.

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