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SHAPARAK Leads the Lot

SHAPARAK Leads the LotSHAPARAK Leads the Lot

SHAPRAK payment and settlement network hosted 838 million successful transactions during the month that ended  Jan. 20 with a total worth of 873.1 trillion rials ($28.9 billion), marking a 28.1% year-on-year growth in volume of transactions and 7.09% in value.

Even though POS terminals are still the most widely-used payment tool in the country, the total number of online payment gateways reached 16,023 during this period, a growth of 11.56% year-on-year. However, the number of mobile payment gateways registered a 41.1% decline--mostly as a result of Central Bank of Iran’s ban on mobile payments since September 2015 due to security concerns.

POS terminals still reign supreme among payment tools as they accounted for 92.7% of the total transactions. Online payment gateways accounted for 6.8% of the total value of transactions.

During the period SHAPARAK recorded 116,779,229 failed transactions, 70.94% of which were caused by users while SHAPARAK accounted for 6.24% of botched transactions—a growth of 179% compared to the previous month.

The report also shows that Beh-Pardakht, a Bank Mellat subsidiary e-payment firm, owns the largest share of POS terminals accounting for 28.93% of the total installed terminals. Bank Parsian’s E-commerce Company accounted for 50.05% of online payment gateways and Beh-Pardakht became the top Payment Service Provider in mobile payment with 46.26% of the market share.

 

Financialtribune.com