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Offline wallet; A change in the banking industry

May 7th 2023

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"Technology and cyberspace have come to the aid of one of Iran's biggest banking problems, micropayment," said the secretary of the Supreme Council of Cyberspace. Sayed Abolhassan Firoozabadi stated that the Kipad system can be a solution to the problem of micropayment in Iran. "Directly with one of the mobile operators, it was able to revolutionize the banking industry to speed up financial transactions."

Regarding systems such as Keypad in the banking industry, he noted: "The central bank must recognize the negative and positive consequences of such systems. "If this system does not have a negative effect, it is an efficient system and we support it." It is worth mentioning that Pasargad Bank has recently introduced its mobile wallet called "Kipad" in cooperation with Irancell and Fanap Payment Company. This product manages micropayments offline on mobile and NFC SIM cards

 

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Offline wallet