Tehran, Moscow connect card payment switches

News ID: 3981266 -
TEHRAN, May 18 (MNA) – In line with expansion of the country’s banking ties at an international level, banking cards switches of Iran and Russia were linked.

As announced by the Central Bank of Iran (CBI), Iranians who possess Shetab (Interbank Information Transfer Network) cards as well as Russians who own banking cards will be able to jointly use ATMs of the two countries as of late August in the first phase and other electronic banking clearance and automated payments systems in the next.

Given the negotiations held in recent months and the agreement to connect banking card systems of Iran and Russia, credit card holders can use ATMs of both countries as of late August though the trial phase of the project kicked off on May 15 to conduct experimental sending, receiving and processing transactions between Iran and Russia.

Bridging banking card switches between Iran and Russia, in addition to development of tourism in various parts of the country by attracting Russian and CIS tourists, will offer significant facilities to Iranian travelers who intend to visit these states.

The measure is one of the connections which were put on the agenda of CBI immediately after the JCPOA implementation and by its expansion to other countries not only will provide citizens and tourists with payment options but also will lead to standardization and internationalization of Shetab network across the globe.

HA/3981062

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