Economy, Business And Markets

CBI to Introduce E-Wallet

CBI to Introduce E-WalletCBI to Introduce E-Wallet

The Central Bank of Iran is going to introduce a new instrument, called the e-wallet for managing retail purchases of the citizens, vice chairman of Saman Electronic Payment Company told FNA on Monday.  Ebrahim Hossein-nejad said that the e-wallet, supported by a new system called “Sepas” will be used to lower transaction costs incurred via using credit cards, and that the electronic payment system is presumably going to be used for purchases of less than 200,000 rials currently. Four commercial banks have already invested in the “Sepas” project, said Hosseinnejad.