Mandatory Encryption for CNP Transactions

In what the Central Bank of Iran has referred to as the “first step in improving the security level of platforms for people’s monetary transactions”, the regulator has issued a directive stating that as of Feb. 4, all card not present (CNP) transactions without end-to-end encryption, except those aimed at paying public bills, will be prohibited and any bank that engages in them will be cut off from Shetab interbank and Shaparak payment networks. From April 21, transactions made to pay bills will also become strictly possible through a specialized system and by using mobile phone numbers instead of bank card numbers, the CBI’s directive was published on its website.