E-Payments Reach $21b in One Month

An estimated 3.27 billion successful digital payments worth 5,968 trillion rials ($21.5 billion) were logged in the month to October 21, posting 16.7% growth in volume and up 23.34% in value compared to the same month last year.
Data released by Shaparak Company, in charge of supervising the domestic payment network, show 4.6% decline in the number of successful digital transactions and 7.77% fall in  value on the previous month.
The report attributes the surge in transactions partially to chronic inflation. As for other factors, Shaparak referred to the increasing number of receiving instruments and debit cards, plus the use of a variety of payment tools instead of cash.
Factoring inflation, the report presented data in real terms for policy and decision makers. The real value of transactions declined 11.06% compared to the month before, and was down 11.41% compared the same period last year.