Latest statistics from Shaparak payment portal shows that mobile transactions in Iran has decreased in the past year, even though the electronic transactions increased by 28% compared to last year.
The restrictions that have been implemented on the mobile transactions could be the reason for the decrease compared to last year. Currently the maximum amount of mobile payments is set at 50 million Tomans (14.5 thousand dollars). Although mobile payments saw a decrease, in the last month of the Persian year 1394, the number of the electronic transactions increased by 28% with an actual value of 4% compared to the past year.
According to the statistics released by Shaparak, the main online payment portal in Iran, 942.9 million electronic transactions worth 34.2 billion dollars took place in the March of the Persian year 1394. These numbers increased by 18.5% in the number of the transactions and 25.55% in the value of the transactions compared to its previous month. The same statistics saw a 28.11% and 12.57% increase respectively compared to last year. These amounts include the inflation which took place during the period of the study.
Most of these transactions are related to retailer debit card readers. In the March of the Persian year 1394, 99.59% of the total number of Shaparak’s payments were done over these debit card readers. A 0.012% increase since the last year.
Although the debit card penetration in Iran is estimated to be 92%, only 3% of all the transactions are online. There are over 15 thousand online portals and 4 million POS terminals which take 97% of all the total transactions within the country.
Due to the sanction implemented on Iran, the country developed a strong domestic payment system through out the past years. CBI (Central Bank of Iran) is said to have been in talks with Japan’s JCB and China’s UnionPay to connect the domestic payment systems to the international ones in the near future.