The real value of transactions in 2023 has decreased by 5.47% despite an increase of 10.42% in the number of transactions according to the annual report of Shaparak.
According to Iran digital economy annotation, the annual economic report of the electronic card payment network company (Shaparak) related to the performance of the payment network was published in 2023. This report deals with the country’s electronic payment industry in four chapters: “Shaparak’s Performance Indicators”, “Quality of Card Payment Services”, “Performance Review of Payment Service Provider Companies” and Review of the Performance of Issuing and Accepting Banks.
This report shows that in 2023, the total number of Shaparak transactions in the payment network was 49 billion and 308 million transactions, and the number of Shaparak transactions in 2023 compared to 2022 was associated with a 10.42% growth. The value of transactions also experienced a 33% growth in 2023 compared to the same period and reached from almost 180 million dollors to 240 million dollors in 2023. Of course, the growth of 33% in the nominal value of transactions in 2023 compared to 2022 is without considering the effect of inflation and rate increases.
In fact, the comparison table of the nominal and real growth of the annual value of Shaparak network transactions shows that the nominal value of Shaparak transactions experienced a growth of 32.99% compared to the previous year, while the growth rate of the real value of Shaparak transactions decreased by 5.47% at the same time.
The number of admission tools has grown by 9.53%
In the following, Shaparak mentioned and explained the issue of the share of admission tools: at the end of March 2023, more than 11.7 million admission tools were distributed throughout the country. Of these, 89.98% are store card readers, 9.96% are internet admission tools, and 0.06% are mobile admission tools.
According to Shaparak’s report, the change in the share of store, internet and mobile card readers among all devices in 2023 compared to 2022 was -1.48, 2.58 and -1.10% respectively, among which the internet admission tool is the most has taken over the growth. Also, the total number of admission tools in 2023 compared to 2022 has grown by 9.53 observations.
The store card reader is still popular
The highest number of Shaparak tools per capita belongs to store card reader tools with 1,708 tools per 10,000 people over 18 years old in the country and the lowest belongs to mobile admission tools equal to about one tool per 10,000 people over 18 years old in the country. The biggest decrease in the per capita admission tools of Shaparak belongs to the mobile admission tool, which has decreased by more than 94% compared to March 2023.
Comparing the performance of each admission tool shows that in total 91.90% of the total transactions in 2023 are at the disposal of store card reader tools. This share has decreased by 0.45% compared to 2022. In addition, the shares of internet and mobile admission tools have increased by 0.77% and decreased by 0.32%, respectively, compared to the same time in 2023. The share of Internet admission tools in the amount of transactions in 2023, while the number of Internet admission tools increased by 0.77% compared to 2022, has experienced a growth of about 4.30% compared to the previous year.
It is further stated that the share of mobile admission tools in the amount of transactions has also decreased by 0.02% in 2023 compared to 2022.
Also, the average transaction amount of the Internet admission tool in 2023 increased by 26.59% compared to 2022. On the other hand, the average transaction amount of store card reader admission tool has experienced an increase of 9.96% in 2023.
Although the comparison of these figures shows that the Internet admission tool has grown in 2023 compared to 2022, but it has still not been able to take a greater share of store card readers. One of the reasons for the less developed internet admission tool is the need to develop smartphones throughout the country and the development and availability of the internet for all parts of the country.
In the continuation of this report, it is stated that the service of buying goods and services on the Shaparak tool has the largest share of the total number of transactions in 2023 with an increase of 0.64 percent compared to 2022 and has reached a share of 89.88.
Also, the amount range of store card reader transactions shows that in the year 2023, the number of transactions with an amount of less than about 12 dollors in the store card reader tool was equal to 43 billion 101 million 51 thousand 837 transactions.
In the comparison section of the annual changes of the index of the decimal ratio, it also shows that the average transaction amount of the first decile in March 2023 has increased by 26.90% compared to April, and in the same period, the average amount of transactions of the tenth decile has experienced an increase of 47.38%.
92% share of successful transactions
The second chapter of Shaparak’s report deals with the issue of the quality of electronic card payment services and states that 92.8% of transactions were successful last year and user error accounted for the highest percentage of errors.
The lowest and highest percentage of service quality of Shaparak occurred in the months of March and May 2023, respectively.
The best and worst of payment companies
The third chapter of this report also deals with the overall performance of payment service providers in 2023.
In 2023, the company “Mellat Behpardakht” with a 20.39% share has allocated the largest amount. After that, Saman electronic payment company has the largest market share with a share of 18.79% of the transaction amount. Sadad electronic payment and Parsian electronic payment with market shares of 11.57 and 10.86 percent are in the third and fourth position of the market share of PSP companies in terms of transaction amount.
The largest difference between the amount of transactions in the years 2022 and 2023 in the Internet admission tool with a figure equal to 5.19% increase belongs to Sepehr Electronic Payment Company. This index in the market of store card reader transactions with a 2.90% increase is in the hands of Novin Arin Payment Company. In the mobile admission tool, Parsian E-commerce Company has the largest amount share changes with a number equal to 7.73% increase.
In 2023, the lowest index number of the total number of card readers with low transactions and no financial transactions to the system active terminals of each company belongs to Mellat Behpardakht Company. On the other hand, the highest ratio is observed in the company “Arvand Omid Farapardazan”.
Check the status of banks
The fourth chapter of this report deals with the situation of issuing and receiving banks in 2023 and shows that Bank Sepah with a share of 17.85% of the number of transactions has the highest share and Bank Mellat with a share of 16.72% of the amount of transactions. They have the highest amount share in 2023.
Among transaction cards in 2023 between banks, the largest number belongs to withdrawal card, then gift card and allowance card, and credit card has the least number.
In the summary section of Shaparak’s report, a summary of the above report is presented and it is stated that from the point of view of Shaparak’s turnover, which is the sum of the issuing and receiving amounts of each bank, Bank Mellat, Bank Melli and Saderat have the highest turnover of Shaparak, and Tose’e credit institution have the lowest turnover of shaparak.
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