PayiQ gains footing in Iran

The partnership will enable PayiQ to make use of Parstin Mehr Kish’s contacts in Kish organisations, mainland banks, the financial sector, credit and investment institutions and online payment companies.

Parstin Mehr Kish was established to introduce the latest European technology in Iran and partnerships with Finnish companies have been particularly prevalent. The company is registered in the Kish Island free trade zone off the southern coast of Iran, where the two will introduce PayiQ’s smart payment solutions whilst also taking on the Iranian mainland markets.

“We believe that there is a huge demand for the possibility to make online purchases via mobile applications as 60 per cent of the 80 million population are under the age of 40 and avoid old methods of time taking transactions,” saysHamid Tehrani, CEO of Parstin Mehr Kish. “We feel this is the right time to make a smart move into the vast Iranian market as our society is more attracted by mobile payment solutions each day.”