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EghtesadOnline: Shaparak Company, regulator of Iran’s domestic payment network, said payment service providers need not issue POS terminal receipts for transactions worth 2 million rials or less, to help save trees (protect the environment) and cut costs.

According to Kazem Dehghan, the CEO, Shaparak network processes more than 40 billion transactions a year, 90% via POS terminals. Printing the transaction receipts costs nearly 7 trillion rials ($23.2 million), the company website quoted him as saying. 

“Printing transaction receipts was optional for transactions worth 500,000 rials or less accounting for almost 40% of the total transactions,” he said. “As per the new measure, the cap is raised to 2 million rials or less, accounting for 80% of transactions.”

Shaparak Company bank transactions