Economy, Business And Markets

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.