Now Available: The Cards and Payments Industry in Iran: Emerging Trends and Opportunities to 2020


New Financial Services market report from Timetric: "The Cards and Payments Industry in Iran: Emerging Trends and Opportunities to 2020"



[ClickPress, Thu Jun 30 2016] Timetric's 'The Cards and Payments Industry in Iran: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Iranian cards and payments industry, including:

* Current and forecast values for each market in the Iranian cards and payments industry, including debit and credit cards.
* Detailed insights into payment instruments including checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
* Analysis of various market drivers and regulations governing the Iranian 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 in the Iranian cards and payments industry.

Full Report Details at
- http://www.fastmr.com/prod/1188647_the_cards_payments_industry.aspx?afid=301

Report Highlights

* Iranian banks were disconnected from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system in March 2012, due to international sanctions placed on Iran by the US as a result of its nuclear program. Banks in Iran were reconnected to the SWIFT system in February 2016, as the sanctions were lifted. This allows banks in Iran to resume cross-border transactions with foreign counterparts. This is anticipated to support the growth in the country's cards and payments industry.
* The lifting of sanctions is expected to encourage more foreign banks to expand operations in Iran. South Korea's Woori Bank opened a representative office in May 2016. In April 2016, the governors of the Central Bank of Iran and the National Bank of Kazakhstan signed a memorandum of understanding (MoU) on the expansion of banking ties between Iran and Kazakhstan. Furthermore, Belgium's KBC Bank and Germany's DZ Bank have started to handle European clients doing business in Iran.
* International scheme providers such as MasterCard, JCB and China UnionPay (CUP) are gradually making inroads into Iran. In December 2015, MasterCard announced plans to enter Iran market once sanctions were lifted. It launched a channel on instant messaging app Telegram, through which it sends posts in Persian to attract Iranian consumers. In February 2016, the Central Bank of Iran announced that JCB credit cards would be issued in the country from the second half of 2016. The increasing presence of international issuers and schemes is expected to bring more investment and competition into the Iranian payment cards market.

Report Scope

* This report provides a comprehensive analysis of the Iranian cards and payments industry.
* It provides current values for the Iranian cards and payments industry for 2015, and forecast figures to 2020.
* It details the different demographic, economic, infrastructural and business drivers affecting the Iranian cards and payments industry.

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