Electronic payment network locally known as Shaparak processed an estimated 1.795 million transactions worth 2.2 quadrillion rials ($21 billion) during the Iranian month of Aban (Oct. 23-Nov. 21), registering 28.6% growth in volume and up 59.1% in value compared with the same month a year earlier.
However, compared with the month earlier, data released by Shaparak website shows a negative growth of -2.89 in volume and -15.42 in value, respectively.
According to the report, the YOY hike in the value of transactions is attributed partly to the higher inflation rate during the period under review. Additionally, the hike is also influenced by other factors such the launch of new instruments, increase in the number of card holders and a general willingness to use alternative methods of payment.
Beside the nominal increase, the report shows real growth in the volume and value of the transactions.
The real increase shuns interference of the inflation factor that makes it a better benchmark for performance evaluation and decision-making.
Statistics indicate -18.28% real monthly growth in value of total Shaparak transactions in Aban, about -3% higher compared to the nominal growth during the same period last year. Also, the value of transactions saw 13.75% real growth compared with the same month in the previous fiscal -- a wide gap between nominal and real data.
Performance of Platforms
Shaparak is an integrated system affiliated to the Central Bank of Iran that brings together payment service providers (PSP) and monitors internet and mobile payment instruments in the country. The electronic payment network operates on three main platforms, namely internet, cell phone, and Point-of-Sale devices.
Data released by Shaparak website shows the total number of receiving instruments in the eighth Iranian month grew 0.99% compared with the corresponding period a month earlier.
The highest number of transactions was processed via POS devices mainly in shops, amounting to 6.9 million transactions and registering 1.09% growth followed by 0.93% in cellophanes and 0.36% in internet-based receiving instruments.
During this period, 88.51% of the transactions were processed via POS devices, 6.2% via cell phones and 5.28% via internet.
Performance of Services
Shaparak offers three main services, including buying goods and services, payment of bills and buying cell phone recharges and checking account balances.
The data showed that buying goods and services accounted for 82% of total Shaparak services. Also, paying bills and buying cell phone recharges and bank account balance checks constituted 12.7% and 5.2% of Shaparak services.
In terms of value of the services provided in Aban, goods and services had the lion’s share and accounted for 95.2% of the total value of Shaparak services -- down 0.26% compared to a month earlier.
Also, payment of bills and buying cell phone recharges covered 4.7% of the total value of services. The share of balance checking service was zero as it involves no financial transactions.
The report says that paying for goods and services witnessed a 0.08% decline in volume during Oct.23-Nov.21compared with the same period a month earlier.
Paying bills and buying cellphone recharge rose 0.08% while balance checking services grew 0.01%.
