A consortium of natural persons and legal entities involved in the fields of electronics, money, and bank, computer, networks, electronic equipment support and services was held in the early 2005, and started their studies for the provision of e-payment services in order to identify the equipment used for this purpose including different types of cards, networks, and switches, and standards of these equipment and apparatuses, by the employment of experts with different qualifications and dispatching them for attending domestic and foreign courses. Following such measures, the incorporation of Damavand E-Card Company was proposed, and on Aug. 29, 2006, the Central Bank of the Islamic Republic of Iran issued and order under the number NP/818 and confirmed the incorporation of the company and the license of permanent activities of the Central Bank of the Islamic Republic of Iran was issued under the number NP/140 on Apr. 18, 2007 based on the installed equipment and terminals. Payment Service Provider (PSP) provides software and hardware facilities for e-payment (POS) card reader, Internet Payment Gate (IPG), USSD (for cell phones) as per the rules and regulations of the Central Bank of the Islamic Republic of Iran and under the supervision of SHAPARAK Electronic Card Payment Network Company and makes it possible for the card holder to process the payment transaction.
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