Paymentwall, a U.S.-based startup that allows people to sell digital goods and services, has announced that they are moving into the Iranian market. Following the lifting of sanctions, the company announced that it has integrated Shetab, a unified clearance system for the Iranian market, into its platform, thus offering users access to Iranian customers.
According to research from TechRasa, Iran boasts a debit-card penetration rate of 92%, one of the highest rates in the world. Thus, there will theoretically be a rush of businesses looking to enter this burgeoning market and Paymentwall believes that they can help them by allowing them by enabling them to use a payment system already familiar to many Iranian customers.
Paymentwall, which launched in 2010 and maintains offices in 11 cities around the globe, including Istanbul, claims more than 150 million users. With this latest announcement, the company says that they have partnerships with more than 140 payment systems worldwide and offer coverage to customers in more than 180 countries.