Banks, PSPs Told to Adopt E-Wallets Without Delay

The Central Bank of Iran seems unsatisfied with the current electronic wallet services offered by banks and payment service providers and has warned them to revise their regulations that so far have been in favor of lenders and PSPs.
A year after announcing rules for electronic wallet services to bank customers, the CBI deputy for innovative technologies expressed disappointment over the current state of e-wallets.
In a meeting with representatives of banks and PSPs, companies, Mehran Moharramian said, "Banks and PSPs can and should play an effective role in promoting e-wallets. However, if they continue to procrastinate the CBI will revise its regulations, and this can result in the entry of new players controlling the market."