Iran Cards and Payments Market Opportunities and Risks Report 2021-2025 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Iran Cards and Payments – Opportunities and Risks to 2025” report has been added to ResearchAndMarkets.com’s offering.
The report provides detailed analysis of market trends in the Iranian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards and cheques during the review-period (2017-21e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together The publisher’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
The report provides top-level market analysis, information and insights into the Iranian cards and payments industry, including –
- Current and forecast values for each market in the Iranian cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including cards and cheques. It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Iranian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
Scope
- The Iranian government has undertaken various initiatives to increase credit card adoption. To promote credit cards as an alternative to small micro loans, in August 2021 the Central Bank of Iran increased the maximum credit limit that can be offered on credit cards from IRR50m ($1,187.57) to IRR200m ($4,750.28). In June 2021, the central bank allowed five banks (Bank Mellat, Bank Saderat Iran, Tejarat Bank, Refah Bank, and Bank Melli Iran) to offer credit cards to people who are eligible to receive government subsidies, with a maximum credit limit of IRR7.0m ($166.26) and a repayment period of 18 months. The card can only be used for payments and does not support withdrawals or fund transfers.
- The central bank is focusing on boosting contactless mobile payments. In February 2021, it launched an EMV-based mobile payment system in Iran, which allows users to make NFC-based contactless mobile payments by adding their payment cards to supported mobile apps. As of September 2021, three banks and a payment service provider had enabled this contactless payment functionality at over 20,000 POS terminals. Another 764,000 POS terminals are now being equipped with this functionality. The growing emphasis on contactless payments will further drive electronic payments in the country.
- The Iranian rial has been declining in value amid rising inflation and US sanctions. Its value further deteriorated following the outbreak of COVID-19. In a bid to address this situation, in May 2020 the Iranian government passed a bill to replace the rial with the toman (with one toman equal to 10,000 rials). The central bank has been given two years to remove rials from circulation and issue tomans.
Key Topics Covered:
- Executive Summary
- Market Overview
- Payment Instruments
- Card-Based Payments
- Alternative Payments
- Payment Innovations
- Payment Infrastructure and Regulation
- Appendix
Companies Mentioned
- Bank Melli Iran
- Bank Sepah
- Bank Saderat Iran
- Tejarat Bank
- Bank Keshavarzi
- Refah Bank
- Post Bank of Iran
- Parsian Bank
- Bank Maskan
- Bank Mellat
- Qarz Al-Hasaneh Mehr Iran Bank
- EN Bank
- TTBank
- Ansar Bank
- Bank Pasargad
- Sina Bank
- Ayandeh Bank
- Saman Bank
- Sarmayeh Bank
For more information about this report visit https://www.researchandmarkets.com/r/7gaz09
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