Iranians to get access to MasterCard service
Baku, Azerbaijan, Aug. 14
By Fatih Karimov – Trend:
Iran’s Post Company has signed a deal with a foreign firm to offer MasterCard service to Iranians, Mahmoud Vaezi, the country’s ICT minister, said.
The Iranian post company has signed a deal with Vision Card Iranian Company which represents MasterCard in Iran under the “framework of international trade rules,” Vaezi said, IRNA news agency reported.
The Iranians' problem in their international payments has been resolved as they can now apply to the Iranian Post company and receive their international MasterCard, he added.
The cards can be used in over 210 countries, Vaezi said, adding the initial credit of these cards will be $10,000.
Transactions with the cards are possible under the regulations of Iran’s Central Bank, he said.
Vaezi further said that the opportunity is a result of nuclear deal which led to removal of sanctions against Iran last January.
Last March it was announced that the Central Bank of Iran has adopted the policy of holding regular talks with Visa and MasterCard companies to have their services in the country.
Iranian officials already said that the country is preparing the ground for the people to use credit cards provided by Asian banks until the restrictions for using the international electronic payment operators like Visa and MasterCard are removed.
Earlier in February, Iyzico – a Turkish credit card company – signed a deal with Iran which enables its customers process transactions from some 230 million payment cards that until recently were not connected to any financial system outside Iran. The Turkish company signed the deal to enter Iran after restrictions excluding the country from the SWIFT banking system removed following implementation of the nuclear deal.