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Currency Volatility to Curtail Payment Network Growth

Currency Volatility to Curtail Payment Network GrowthCurrency Volatility to Curtail Payment Network Growth

Ongoing currency fluctuations in Iran have the potential to put a dent in the strong growth of the country’s payment network, the head of Informatics Services Corporation, the company in charge of operating Iran’s payment systems, said.
“We saw a 20% growth in the number of transactions in payment systems during the first three months [of the current Iranian year that ended on June 21] compared with the similar period of last year, but because of currency issues and the pressure on people, we may not witness these growth rates in the number of transactions by the end of the [fiscal] year [March 20, 2019],” Aboutaleb Najafi also told IBENA.

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