Mobile Phone Payment
Economy, Business And Markets

Mobile Phone Payment

Mobile Telecommunications Company of Iran (locally known as Hamrahe Aval) and Informatics Services Corporation–affiliated to the Central Bank of Iran–announced a partnership on Monday to offer innovative banking and payment solutions on mobile phones. According to the deal Hamrahe Aval, along with the CBI and the Ministry of Communication and Information Technology, will develop the needed infrastructure for mobile financial services across the country, Tasnim news agency reported Tuesday. Near Field Communications (NFC) payment and mobile wallet are among the planned services. A mobile wallet is a way to carry a credit card or debit card information in a digital form on your mobile device. Instead of using a plastic card to make purchases, one can pay with a  smartphone, tablet, or smartwatch. The plan is set to be launched in two months.


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