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Shetab Banking System
From Wikipedia, the free encyclopedia
The Shetab system is the only electronic banking clearance and automated payments system used in Iran. The system was introduced in 2002 with the intention of creating a uniform backbone for the Iranian banking system to handle ATM, POS and other card-based transactions.
Prior to its introduction, some Iranian banks were issuing cards that only worked on the issuing banks ATMs and POS machines. Since the introduction of Shetab, all banks must adhere to its standards and be able to connect to it. Furthermore, all issued credit or debit cards must be Shetab capable.
As of the end of 2003, the Shetab system had 2,926 ATMs and 16,070 POS units connected to it.[1]
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Shetab (Interbank Information Transfer Network) was introduced in 2002, and now all card issuing banks in Iran are required to connect to the system [2]. In 2002, when the system was introduced there were at approximately 2.8 million domestic debit cards in circulation, of those approximately 530,000 were capable of using the Shetab system.[2] By 2010 it is expected that 12 million cards would be issued, all of which work with the Shetab system.[3]
The Agricultural Bank (Bank Keshavarzi) was the first Iranian bank to connect to the Shetab system. [4]
- In March 2005 agreements were reached between the Iranian Central Bank and Bahrain and the United Arab Emirates to connect their systems to the Shetab network [5].
- In October 2005, Iran and China linked their banking systems. [6]
- In July 2006 the Shetab system was linked with Qatar's ATM network (NAPS). [7]
The following are the banks which are a member of the Shetab network. The list is broken down by the year they have joined.[8]
- Keshavarzi
- Saderat
- Tosea
- Saman
- Melli
- Sanat and Madan
- Karafarin
- Sepah
- Tejarat
- Mellat
- Parsian
- Post bank
- Pasargad
As of 2006, Iran was still very much a cash based society. It is expected that a unified clearance system, such as Shetab, will provide significantly greater efficiency, reduce crime, reduce money printing costs, and improve tax collection amongst other benefits[9]. It is also expected to improve the quality of life of citizens whom, once the system is fully operational, would no longer be required to spend large amounts of time organising things in person and would concequently be able to conduct activities immediately over the phone or over the internet[10]. The impact of the system is already being felt as corporations establish e-commerce, supply chains, online banking and retailing systems.[11][12]
- ^ http://www.irtp.com/laws/re/NATIONAL%20REPORT%202004.pdf
- ^ http://a248.e.akamai.net/7/248/3622/2a5c666c2dbb17/www.markets.img.hsbc.com/public/tcm/cibm/pcm/pdf/03.12.30%20Iranfinalword.pdf.
- ^ http://www.iran-daily.com/1384/2411/html/focus.htm
- ^ http://www.agri-bank.com/Static/English/About/Profile.asp
- ^ [1]
- ^ http://www.mehrnews.com/en/NewsDetail.aspx?NewsID=236691
- ^ http://www.qcb.gov.qa/Naps&Shetab.pdf.
- ^ http://www.irtp.com/laws/re/NATIONAL%20REPORT%202004.pdf
- ^ http://www.iran-daily.com/1384/2411/html/focus.htm
- ^ http://www.iran-daily.com/1384/2411/html/focus.htm
- ^ http://goliath.ecnext.com/coms2/gi_0199-5533960/IRAN-FIRST-E-BANK-OPENS.html
- ^ http://www.iran-daily.com/1383/2072/html/panorama.htm
| Interbank networks by region | |
| Multiregional: | |
| Africa: |
CashNet | Interswitch | SASWITCH |
| Asia Pacific: |
1Link | ALTO | Artajasa | atm5 | ATM BCA | ATM Bersama | ATM BII (Superkasa) | BancNet | Bankline | Cashnet | CashTree | ENS | ETC | Expressnet | Himbara | JETCO | EPS | Link | MEPS | MegaLink | MITR | MNET | NFS | Nationlink | Sanwa | UnionPay | Yucho | FISC |
| Caribbean: |
ATH | Midas | Unired |
| Europe: |
4B | Altın Nokta | BankAxept | Bankomat | BKM | Cash Group | CB | DIAS | Eufiserv | Euronet | LINK | Multibanco | Ortak Nokta | Otto. | ServiRed | StarNet |
| Middle East: |
123 | BANCS | Bankernet | CSC | JoNet | NAPS | OmanSwitch | Shetab | SPAN | UAE Switch |
| North America: |
Abby | ACCEL/Exchange | Access 24 | Advantage | Alaska Option | Alert | Allpoint | Annie | ARN | Award | BankMate | BOH | Cash Station | Checkokard | CO-OP | Credit Union 24 | Credomatic | Discover Network | Easy Answer | Express | Express Teller | Fastbank | Gulfnet | HandiBank | Handy 24 | Honor | Instant Cash | Instant Teller | Interlink | Interac | Jeanie | KETS | LYNX | MAC | Magic Line | Member Access Pacific | Minibank | Money Belt | Money Network | MoneyMaker | Money Station | MOST | MPact | Networks | NYCE | Peak | Presto! | Pulse | Quest | RED | Red Total | SC 24 | Service Card System | SHAZAM | STAR | SUM | The Exchange | Transact | Transfund | TX Network | Tyme | Universal Money Center | Via | X-PRESS 24 | Yankee 24 |
| South America: |
GlobalNet | Link | Redbanc | Telebanco | Unicard | Conexus | Suiche 7B | Banelco |
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