Iran Payment Market

An estimated 3.69 billion retail transactions were logged by the domestic electronic payment network Shaparak in the first month of the calendar year to April 21. It processed an estimated 11,…

The payment regulator has suspended services to three million POS terminals and online payment gateways after the users failed to abide by tax rules required by the Iranian National Tax…

The Central Bank of Iran is using a smart platform to detect and block unauthorized payment gateways, developed and used by online betting and gambling websites. 

Iran’s Fintech Association has proposed a new fee system for online payment in which payment aggregators and payment service providers cover the network fees, which are currently paid by banks…

Rules announced by the Central Bank of Iran to make one-time password obligatory can help foster the business of e-wallet startups, says a board member of Tehran Chamber of Commerce.

The Computer Emergency Response Coordination Center (MAHER), affiliated to the Telecoms Ministry, has identified and blocked 950 suspicious payment gateways since the beginning of the current…

The nationwide payment settlement network, Shaparak, announced Wednesday that it continues blocking Iranian Point of Sale devices operating abroad.   Extending a series of efforts…

A new generation of mobile payment network will be unveiled soon, said an official with the local payment settlement network regulator, Shaparak.   The new system does not require…

The prosecutor general of western Ilam Province said Saturday medical centers which don’t abide by the law on using point of sale (POS) devices will be shut down.  He said the law will be…

Shaparak, the domestic electronic payment network, handled 18.55 billion transactions in the Iranian month of Azar (Nov. 22-Dec.21) worth 2,000 trillion rials ($17 billion).  

The government will start levying taxes on business owners' transactions processed through point-of-sale devices to combat tax evasion, the head of Iran National Tax Administration announced.…

The Central Bank of Iran has sent a directive to the banking system announcing that fees levied on payments made through mobile phones have been eliminated, in what can be interpreted as a blow…

Iran’s financial system is gradually undergoing a technological evolution in micropayments by the introduction of NFC (Near-Field Communication) services tailored for handling small payments.

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…

As the new fiscal year started on March 21 and the banking system expects major reforms, the issue of payment services’ fees poses a huge challenge to the electronic banking sector.

Strengthening the private sector role in bolstering the economy and implementing divestiture laws has been a major focus of President Hassan Rouhani’s administration, but the privatization…

Shaparak, the Central Bank of Iran-affiliated supervisory entity in charge of the country’s payment settlement network, has released its latest report for the 11th month of the current fiscal to…

Data released by the Central Bank of Iran indicate that the number of electronic payment instruments have been continuously on the rise in the past few years.

The regulator has disclosed…

Iran’s payment settlement network Shaparak processed more than 1.443 billion transactions worth 1.50 quadrillion rials ($32.02 billion) in the ninth month of the current fiscal year to Dec. 21,…

The share of digital transactions in Iran has reached 10% of the total volume of liquidity in the country by the end of the seventh month of the current fiscal year on Oct. 22.

Shaparak…

In light of the significant surge in the number of electronic transactions, the ratio of cash and coins to liquidity in Iran has declined by 3.5% in the past four years, announced the CEO of…

The volume of electronic payment transactions during the second half of the previous Iranian fiscal to March 20, 2017 has exceeded the figure of gross domestic product.

Iranian payment service providers have been improving in terms of adhering to laws and regulations that would put them on a better footing among their global peers, announced Shaparak, the…

Shaparak Company, Iran’s national payment network operator, has reportedly notified all payment service providers in a letter that regulations concerning fees will be overhauled.

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The Nilson Report, one of the most trusted sources of news and analysis of the global card and mobile payment industries, has surveyed the largest merchant acquirers in Middle…