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Payment Industry Awaiting Currency Allocation

Payment Industry Awaiting Currency Allocation Payment Industry Awaiting Currency Allocation

After the unification of the US dollar’s exchange rate, the payment industry has yet to receive hard currency at the rate of 42,000 rials for importing equipment and hardware. The CEO of Beh Pardakht Mellat Company told IBENA that companies importing payment industry’s hardware are waiting to receive foreign exchange from the Central Bank of Iran. Mohammad Ali Torabian added that in order to develop the market, the company aims to install 120,000 POS devices in the current fiscal year that started on March 21. The Central Bank of Iran has announced that it has allocated over $6.6 billion in hard currency to fulfill the country’ foreign exchange needs between April 11 and May 8 at the unified rate of 42,000 rials. 

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