MasterCards now available in Iran

TEHRAN, Aug. 14 (MNA) – Iran’s ICT Minister Mahmoud Vaezi has announced that MasterCard’s international credit cards are now available inside the country.

Speaking during a ceremony to inaugurate infrastructure projects of Iran Post, Iranian Minister of Communications and Information Technology Mahmoud Vaezi said “in time with the lifting of sanctions and following Iran’s international trade development, grounds are now prepared for organizations like Iran Post, Telecommunication Company of Iran (TCI), Information Technology Organization of Iran (ITC) and the Infrastructure Company to launch international cooperation as we have now managed to resolve their needs for international credit cards.

“Accordingly, the Vison Card project, as the representative of MasterCard in Iran, has inked a contract with Iran Post Company to meet the needs of people for travelling abroad, purchasing foreign articles as well as participating in international conferences through credit cards,” he added.

The official said Mastercards will be distributed among certain branches of the Iran Post Company; “the credit cards can be charged with a maximum of 10 thousand dollars and their banking operations will be carried out inder the laws of the Central Bank of Iran (CBI).”

“In time with the occasion of Iran Government Week, a total of 155 post office branches across the country will offer Mastercards which are valid in more than 210 world countries,” stressed the Iranian ICT minister.

An American multinational financial services corporation, MasterCard Incorporated's principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the 'MasterCard' brand debit and credit cards to make purchases.

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