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Iran E-Commerce Regulator to Authorize Payment Gateways

Payment Tools to Be Regulated By Iranian Body Payment Tools to Be Regulated By Iranian Body

Iran Center for E-Commerce Development, e-commerce industry’s top body, is set to regulate the operation of unofficial payment tools, referred to as aggregators, after profiling owners and their users (receivers), said Faranak Razeqi, the center’s deputy.

Payment aggregators will be authorized only if they meet technical standards of Shaparak, the payment industry’s regulator.

“Receivers need to provide the center with information about their identity,” she was quoted as saying by Way2pay.ir.

Users will be classified in different groups, which define a cap for the total money they are allowed to receive.

The primary plan requires users to provide a phone number for being allowed to use payment services, she added.

Back in March, authorities decided to block almost all the unofficial payment tools. The move was estimated to have killed over 1,000 jobs that relied on non-bank payment services for running their businesses.

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Financialtribune.com