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Payments Landscape in Iran: Trends, Opportunities and Risks to 2021

05-14-2018 01:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Hub

Market Research HUB

Market Research HUB

An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Payments Landscape in Iran: Opportunities and Risks to 2021". This report provides a comprehensive overview of trends and developments in banking industry. This 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 payment cards and cheques during the review-period (2013-17e).

Request For Sample Report -https://www.marketresearchhub.com/enquiry.php?type=S&repid=1769974

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 (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This 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 payment cards and cheques. It also, includes an overview of the country's key alternative payment instruments.
- 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 taken several initiatives to increase credit card adoption and use. In September 2016, the CBI introduced a guideline under which banks are required to issue credit cards as part of its nationwide credit card scheme. However, card issuers must consider applicants credit worthiness and monthly income before a credit card can be issued. Based on these parameters, banks can issue credit cards in three variants - Bronze with a maximum credit limit of IRR100m ($2,770.67), Silver with IRR300m ($8,312.01), and Gold with IRR500m ($13,853.35). No interest rate is levied on card holders if they clear their debt within one month. Card holders are also permitted to repay their debt over 12-18 instalments, with annual interest capped at 18%. According to Bank Melli Iran, nearly 20,000 individuals applied for credit cards within two days of the launch of the scheme.
 
Browse Full Report with TOC- https://www.marketresearchhub.com/report/payments-landscape-in-iran-opportunities-and-risks-to-2021-report.html

- To promote electronic payments and reduce dependence on cash, especially among the low-income segment, in April 2017 the government introduced a scheme called Yarakart. Under the scheme, banks can issue credit cards for low-income individuals, providing an alternative to bank loans. To complement this government initiative, Bank Keshavarzi introduced the Yarakart credit card in June 2017. To minimize chances of default, repayment is automatically made from the cash subsidy given by the government to the individual. The cards are only issued to individuals who are eligible to receive cash subsidies from the government, which also acts as collateral for the credit card-issuing bank. Iran Post Bank began offering Yarakart credit cards from February 2018. The card is available with a credit limit ranging between IRR10-50m ($277.07-1,385.34).

- The adoption of alternative payments among Iranian consumers is slowly rising, as a result of the emergence of a number of payment options. The latest of these is the launch of the mobile wallet Keypod by Iran-based technology company FANAP, in partnership with Bank Pasargad in December 2017. Users can store multiple debit cards and bank account numbers on their smartphones, enabling them to make contactless payments. Earlier in October 2016, the Sekeh mobile wallet was launched by Bank Mellat. This service enables users to make contactless payments at POS terminals and also supports payments by scanning QR codes. Likewise, in November 2015 PayPing - a payment solution for P2P payments - was introduced in the country. The solution can be used for fund transfers among individuals as well as by vendors, schools, societies, and companies to receive payments from their customers.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to the Iranian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Iranian cards and payments industry.
- Assess the competitive dynamics in the Iranian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Iran.
- Gain insights into key regulations governing the Iranian cards and payments industry.
 
Enquire about this Report- https://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=1769974

About Market Research Hub

Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.

MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

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