Beh Pardakht Mellat (BPM), a payment service provider affiliated to Bank Mellat, topped the list of transactions processed in the eighth month of Iran’s fiscal year (Oct. 22-Nov. 20)
The company processed 21.03% of total electronic transactions in the month followed by Samen Electronic Payment at 19.4% and Parsian E-Commerce Company 17.9%, according to data released by Shaparak Company, the body in charge of overseeing Iran’s payment network.
The nationwide payment settlement network, Shaparak, processed approximately 2.76 billion payments worth 4,379.55 trillion rials ($16.8 billion) in the month. Transactions were down 9.5% in value and 1.51% in volume compared to the month before when it handled 2.8 billion transactions valued at 4,839.2 trillion rials ($18.61b).
BPM also was the leading player in the market in terms of the collective value of transactions with 21.78% that was considerably higher than other companies. Saman came after with 15.58% share of digital payments followed by Iran Kish Credit Card Company with 12.68%.
BPM also remained the major player in terms of transactions via POS terminals despite a slight decline in market share. Nearly 21.7% of POS transactions were processed by BPM or 0.16% lower than the month before.
Shaparak data show that smaller companies increased their share of POS transactions. Pasargad Electronic Payment, affiliated to Bank Pasargad Iran expanded its share by 0.3% to register the largest growth in POS transactions.
Parsian E-Commerce Company (PECCO) accounted for the largest share of online payments during the period alone processing 33.04% of transactions through online gateways. The company also posted 2.45% increase in its share of online payment compared to the month before.
Saman Electronic Payment (SEP) topped cellphone payment transactions with 30.65% share up 1.36%.
Shaparak offers services via internet, cellphone and point of sale devices. With more than 11.93 million payment instruments active in the reviewed month, the total number of instruments showed 1.83% growth compared to the month before.
POS devices accounted for 90.32% of the total transactions by processing 2.49 billion transactions worth 3,896.5 trillion rials ($14.98b) in the month.
Online gateways were next with 5.66% of the total transactions while mobile instruments were at 4.02%. Twelve PSPs have operating license form the Central Bank of Iran.
