Due to sanctions imposed on Iran’s economy, Iranians haven’t been able to benefit from International payment networks such as VISA or MasterCard. This led the Central Bank of Iran to implement a local interpayment system called “SHETAB”

SHETAB network (interbank information exchange network)

With the creation of the SHETAB center, the card of all member banks will meet on POS terminals and ATMs of other banks as well as PINPADs, Internet portals, telephone numbers and … Other banks can also be used.

This system was used by the Central Bank of the Islamic Republic of Iran since mid-2002. By using the SHETAB network facilities, all network card holders can now access their ATMs from any of the ATMs connected to the network, or purchase goods and services using terminals connected to the SHETAB.

Currently, all banks in country, both public and private, have become members of this center. The customers of these banks can use their card to receive the required services from equipment installed by other member banks throughout the country.

SHETAB system tasks

  • Routing transactionsRouting transactions and directing to the corresponding bank card system
  • Record transactionRecord transaction and system events
  • Make a correction transactionMake a correction transaction in the absence of the original transaction
  • SettleSettle the end of the day between member banks
  • Connect with an inter-bank switch abroadConnect with an inter-bank switch abroad
  • Network and security managementNetwork and security management

Advantages of SHETAB network

Using this network reduces the need for your visit to banks. Also you can get banking services after office hours and at all times of the day. In fact, with the SHETAB, you have 24 -hour banking network.

Currently, some international airlines, such as Turkish Airlines and Qatar Airlines, are connected to the SHETAB banking system. This means that Iranians can book their flight directly from airlines with credit cards in Iran.

As of 2006, Iran was still very much a cash based society. It is expected that a unified clearance system, such as Shetab, will provide significantly greater efficiency, reduce crime, reduce money printing costs, and improve tax collection among other benefits.

It is also expected to improve the quality of life of citizens whom, once the system is fully operational, would no longer be required to spend significant amounts of time The impact of the system is already being felt as corporations establish e-commerce, supply chains, online banking and retailing systems

Disadvantages of SHETAB network

Stealing card info

payment cards within the system themselves have high security and the SSL system can also secure exchanges between web search engines and services. However it cannot reduce the risk of theft of information by hackers. Therefore, one of the risks that always threatens credit card holders is the risk of hackers and security attacks.

Costs of transferring funds

In each transfer, banks and companies that provide payment card services, charge a fee to the seller’s account. In sum, these costs can be substantial for vendors. In this process the buyer does not pay any additional funds as fees or fees directly. But usually sellers pay indirectly to the buyer’s price and receive indirectly from the buyer. Although Vendors who refuse to accept payment cards actually lose a large amount of their sales.



Any banking or credit institution licensed by CBI will become a member of SHETAB network by following the memorandum regarding the agreement. For utilizing the services offered by SHETAB, each member is required to open an ad hoc current account for clearing purposes with CBI’s Department for Rial-Denominated Transactions. This account will be operable by SHETAB. Participants are also required to put in place the technical equipment (data exchange switch) for processing of payment cards as well as inter switch links according to defined standards. In addition to mainframe computer systems and equipment for processing of own payment cards data, the participants should undertake to install and implement back-up facilities for assuring uninterrupted card payment services during unforeseen emergency circumstances or when their main system is down due to disruption.

The plan of Yekpay for foreigners and domestic user

As mentioned Iran has no connection to International Payment Networks such as Visa and MasterCard. The country has remained an isolated island with few connections to the outside world. What this means for Iran and Iranians?

Average Iranians cannot have financial interactions with the outside world in terms of buying or selling goods or services. Most importantly, they cannot benefit from the international e-commerce platform that has been in place for a long time using the World Wide Web and the Internet. It makes traveling harder since every Iranian tourist has to carry cash when they go outside of the country. Simple transactions such as booking a hotel or a flight are a luxury to most Iranian citizens.

There is now a connection between the SHETAB network and the BENEFIT network of Bahrain and the NASP network from Qatar. As well as the CUP Network in Southeast Asia (China), but the speed of the development of this relationship that has been in place since many years ago is not optimal, which will allow the market to interact with the market segment of International and foreign investment part.

Yekpay also try to be a part of that optimism by stablishing a new reliable international platform. Actually at YEKPAY, you can connect with other networks abroad and deal with Have an account.