Economy, Business And Markets

IRICA Launches E-Wallet

IRICA Launches E-WalletIRICA Launches E-Wallet

The Islamic Republic of Iran Customs Administration has launched the country’s first e-wallet system which is connected to smart cards. According to IRICA, e-wallet payment system is meant to ease cross-border trade and help enhance customs clearance, reported on Sunday.  Customs services including distribution, warehousing, loading and unloading are available at prices that should be paid before the arrival of goods. The launch of the e-wallet payment system, however, removes the need for cash payments. The new system is also expected to enhance the inspection process, curb possible rule evasions and speed up the custom clearance formality by eliminating the need for old and cumbersome payment methods. The website said 34 services offered by the customs administration is conducted electronically.