54784
CBI Unveils Mobile Payment Platform
Economy, Business And Markets

CBI Unveils Mobile Payment Platform

Central Bank of Iran and Shaparak Company, Iran’s payment network supervisor, have required all payment service provider companies to use the newly-launched “Peyvand system” instead of the low-security USSD platform. Nasser Hakimi, the director of CBI’s IT Department, said all mobile transactions should take place in the new platform from December 21. “Law-breaking PSPs will be fined or banned from using the system,” Banker.ir quoted Hakimi as saying on Monday. The CBI launched Peyvand in late September, in line with plans to raise the security of mobile transactions. The central bank last year introduced a ban on mobile payments through Unstructured Supplementary Services Data for fear of fraud. However, it decided to come up with an alternative platform. About 12% of electronic payments in Iran take place through online payment gateways.

 

Short URL : https://goo.gl/sWze7e
  1. https://goo.gl/qlX041
  • https://goo.gl/5Mbwtk
  • https://goo.gl/UeoR3M
  • https://goo.gl/uIqFD7
  • https://goo.gl/SHwXU7

You can also read ...

Italian investment companies remain active in Iran, despite...
Iranian Insurance Firms' Premium Income Exceeds $1.2b in H1 (Mar-Sep 2018)
Iran insurance industry earned 183 trillion rials ($1.28...
Iran, India Leading Global Ammonia Capacity Growth
Iran and India will continue to lead the global ammonia market...
Iran Auto Industry Hither and Thither
Over the past few days, Iran’s beleaguered auto industry has...
Iran-Russia Non-Oil Trade Sees Over 80 Percent Hike (September 2018)
Iran traded 956,662 tons of non-oil commodities worth close to...
US Sanctions Against Iran Ridicule Int'l Norms
Foreign Ministry Spokesman Bahram Qasemi on Wednesday...
First-Timers Constitute 20% of Tehran Homebuyers
First-time homebuyers have accounted for a 20% share of total...
Iran Slips 1 Spot in WEF's Global Competitiveness Index
The World Economic Forum’s “Global Competitiveness Report 2018...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus