EghtesadOnline: Portable electronic point-of-sale devices were advertised on prime time state TV Saturday by the company that has been given the license to promote the brand.
A mobile POS is a smartphone, tablet, or payment device that performs the functions of a cash register or electronic point of sale terminal (ePOS).
The advent of micro portable POS systems comes just a few days after the firm, Pardakhtam, announced it would be rolling out the service to the country's taxis.
The system works with a chip and pin bank card. The card is passed to the person to whom the payment is to be made. The latter types in the code and the payment is deducted from a bank account, Financial Tribune reported.
After creating a profile on the application, users can charge their account through Zarinpal (a local escrow company). Each taxi driver has a special identification number in Pardakhtam’s database. By entering the ID number in the application, the passenger can pay the driver through the app.
Pardakhtam has also launched an artificial intelligence system which operates through Telegram messaging application— the most popular messaging service in Iran.
The move to digitalize payments is part of a push by the Central Bank of Iran to move transactions away from paper currency.
Several other companies will begin rolling out their own competing systems in the coming months, which all work via the 3 and 4G Internet connections.