Economy, Business And Markets

MasterCard Controversy Clarified

Mahmoud VaeziMahmoud Vaezi

Minister of Communications and Information Technology Mahmoud Vaezi has clarified the misunderstanding related to the activity, or lack thereof, of US-based multinational financial services corporation MasterCard in Iran.

Vaezi said on Sunday there have been some confusion concerning MasterCard's activity in Iran, MNA reported.

“What we announced was that the removal of sanctions has started a new phase of international cooperation in various communications fields, and due to this opportunity, Iran’s Post Company has signed a deal with an intermediary firm that offers international credit cards to Iranians,” he said.

“At that time, we did not mention MasterCard at all, but some media assumed that the services were going to be provided by MasterCard.”

Vaezi explained that the company, which offers international credit card services, is active in Iran under the name "Vision Card", adding that MasterCard's announcement that it had no activities in Iran was correct.

Following reports about the issuance of MasterCard in Iran, the company’s spokesman, Seth Eisen, said on Aug. 15, “MasterCard does not have any activities in Iran, as sanctions have remained in place for US-based companies for some time.”

Referring to the delivery of products bought by Iranian people via international websites such as eBay and Amazon, Vaezi said Iran's Post Company has signed a contract with an intermediary firm to deliver the products bought from these two websites to Iranian customers.