Tehran, Iran, Jan. 23
By Kamyar Eghbal – Trend:
The government of Iran has approved a plan to remove monopoly on the country’s payment system.
Addressing the 7th annual conference of electronic banking and payment systems, Minister of Communications and Information Technology Mohammad Azari-Jahromi said that the government has approved the plan to remove monopoly on the country’s payment system in a move to pave the way for on-line businesses.
Speaking about the startup companies, he said that the monopoly in the payment system is considered as a serious obstacle to the new businesses.
He added that the new plan envisages authorizing operators to be involved in the payment operations. However, the role of banking system in this issue is of high significance.
He emphasized that this will allow to increase the number of transactions, adding that monopoly in this segment would not allow to increase the market, which is a huge disadvantage for the country's economic growth.