Central Bank of Iran to introduce NFC mobile payments

The Central Bank of Iran (CBI) has announced plans to introduce NFC contactless payments in the country, enabling consumers to upload their bank card information to their mobile phone and use their device to make in-store purchases at the point of sale.

Central Bank of Iran logo

The central bank’s governor, Abdolnasser Hemmati, revealed the plan in an Instagram post, saying that the scheme would “eliminate the need to use cards for day-to-day purchases in shops” and that it is “consistent with credible international standards”.

“Hemmati said contactless payment would add to the ease of use of electronic banking systems in Iran while it would help cut contagion during the current coronavirus pandemic by reducing the risk of catching the disease,” Iranian media outlet Press TV reports.

“CBI’s push to launch the NFC payment system also comes as it seeks to reduce the excessive use of plastic cards that are normally supplied from abroad.”

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