Payment Co. Loses Pole Position

EghtesadOnline: For the first time since the birth of Shaparak Network, Iran's domestic payment network, Beh Pardakht Mellat e-payment company lost its pole position as company with the highest number of monthly transactions.

News ID: ۷۸۶۳۰۷

10 April 2021

As per a report by Shaparak, Saman Electronic Payment (SEP), affiliated to Bank Saman, managed to top the PSP list in terms of monthly transactions with 19.8% share in the month to March 19.

Beh Pardakht was second 19.4% followed by Parsian Electronic Commerce Company affiliated to Parsian Bank at 18.62% and Asan Pardakht Persian with 10.57%.

The meager decline in total transactions using Beh Pardakht POS terminals could be among factors impacting the company's monthly performance.

However, Beh Pardakht still holds the leading position when it comes to the value of transactions. It alone processed 20.05% of the transactions’ value during the month. SEP was next with 17.28% followed by PECCO at 13.07%.

More than 3.23 billion transactions worth 5,822.06 trillion rials ($23.3 billion) were processed by the payment settlement company, Shaparak, in the last month of the fiscal year that ended on March 20.

Compared to the earlier month, the transactions were 9.94% higher in volume and up 14.35% in value, Shaparak reported.

The upsurge was bigger on an annualized basis. The number of transactions rose 41.64% compared to the same period last year when transactions took a drubbing amid lockdowns and mass businesses closures due to the coronavirus pandemic.

Shaparak data for the same month last year show it processed 2.28 billion transactions worth 3,281.7 trillion rials ($13.12b) in the month ending March 19, 2020.