TCI to Unveil eWallet

The local fixed-line operator Telecommunications Company of Iran is set to unveil a new service called eWallet for facilitating online purchases, TCI’s vice chairman said. Mozaffar Pour-Ranjbar added that the service will be launched by the end of the current fiscal [March 2018], enabling customers to use near-field communication technology for making payments, TCI’s official website reported. The NFC method makes transactions possible by holding two electronic devices 10 cm apart. eWallet allows users to store multiple debit card and bank account numbers in a secure environment and eliminate the need to enter account information when making a payment. Once the users have registered and created eWallet profiles, payments become faster and easier. The service has already been offered in the country by several businesses such as the Central Bank of Iran, the Islamic Republic of Iran Customs Administration and Infotech, a local technology company.