Top Acquiring Banks for E- Payment Are Named

The supervisory body of the domestic payment network, Shaparak, said Bank Mellat acquired 19% of the electronic payment transactions in the calendar month to June 21.
It said Bank Melli Iran and Bank Sepah, both state-owned, ranked after with 15% and 11.08% share of the total transactions.
Acquiring banks are financial institutions that offer merchant accounts to businesses. The special accounts are necessary for merchants to receive debit and credit card payments directly. Acquiring banks may also be referred to as merchant banks or acquirers.