Iran Cards and Payments Market Opportunities and Risks from 2020 to 2024: PhonePay, Bank Melli Iran, Persian Bank, Bank Maskan

A new independent 46 page research with title 'Iran Cards and Payments - Opportunities and Risks to 2024' guarantees you will remain better informed than your competition. The study covers geographic analysis that includes regions like North America, Europe or Asia and important players/vendors such as Bank Saderat Iran, Bank Melli Iran, Persian Bank, Bank Maskan, Hamrah Card, Sekeh, Asan Pardakht, Jiring, PhonePay, Yekpay With n-number of tables and figures examining the Cards and Payments, the research gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2026

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Summary
Iran Cards and Payments - Opportunities and Risks to 2024

GlobalData’s 'Iran Cards and Payments - Opportunities and Risks to 2024' 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 (2016-20e).

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 (2020e-24f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s 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 cheques and cards. 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 debitand credit cards.

Scope

- Electronic payments are gaining prominence in Iran, registering steady growth during the review period. The outbreak of COVID-19 has further accelerated the growth in electronic payments. In March 2020 the central bank announced the National Comprehensive and Integrated Payment Acceptance Plan. The plan includes the development of a standard interoperable QR code, enabling QR code acceptance at all POS terminals. Meanwhile, in March 2020 the government increased the card-to-card money transfer limit from IRR30m ($712.73) to IRR100m ($2,375.78). Card-to-card transfers are quite popular in Iran and can be made via channels including ATMs, kiosks, mobile phones, and internet banking.
- In August 2020, Iran’s Fintech Association proposed a new fee system with regards to online payment transactions. As per the new proposal, payment aggregators and payment service providers would cover network fees, which are currently paid by banks. Such fees now account for almost 60% of total fees paid by banks, which is over and above the amount banks pay as rent and support fees for each POS device to payment service providers. The costs involved undermine banks’ willingness to invest in electronic banking. The proposed rule would cut banks' annual expenses by 16%.
- The Iranian rial has been declining in value amid rising inflation and US sanctions. Its value further deteriorated following the outbreak of COVID-19. To address this, 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 instead.

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.

Companies Mentioned in the Report
Bank Saderat Iran
Bank Melli Iran
Persian Bank
Bank Maskan
Hamrah Card
Sekeh
Asan Pardakht
Jiring
PhonePay
Yekpay

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