Iran Cards and Payments - Opportunities and Risks to 2026

The publisher's ‘Iran Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in Iran's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, and cheques during the review-period (2018-22e).

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 (2022e-26f). 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 Iran's cards and payments industry, including:

• Current and forecast values for each market in the Iran's cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including cards, credit transfers, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Analysis of various market drivers and regulations governing Iran's cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of Iran's cards and payments industry.

Scope

• The Iranian Government has, in recent years, undertaken various initiatives to increase credit card adoption. To promote credit cards as an alternative to micro loans, in August 2021, the Central Bank of Iran increased the maximum credit limit that can be offered on credit cards from IRR50 million ($1,183.05) to IRR200 million ($4,732.20). 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 eligible to receive government subsidies, with a maximum credit limit of IRR7 million ($165.63) 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, 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 one 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 Iran in the coming years.
• Owing to US sanctions and rising inflation, the Iranian rial (IRR) has been declining in value. Its value further deteriorated following the outbreak of COVID-19. In an effort to address this situation, in May 2020, the Iranian government passed a bill to replace the rial with the toman (with one toman equaling IRR10,000). In September 2022, the central bank began a trial of its digital currency, the digital rial, which is worth one billion tomans. Subsequently, in November 2022, the digital rial was officially launched. Digital rials can be stored in digital rial wallets, without the need for a bank account.

Reasons to Buy

The report provides top-level market analysis, information and insights into Iran's cards and payments industry, including:

• Make strategic business decisions, using top-level historic and forecast market data, related to Iran's cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in Iran's cards and payments industry.
• Assess the competitive dynamics in Iran's cards and payments industry.
• Gain insights into marketing strategies used for various card types in Iran.
• Gain insights into key regulations governing Iran's cards and payments industry.