 | |
| Operating area | Iran |
|---|---|
| Members | 26 (Iranian Banks) |
| ATMs | 57,000 (2019) |
| Founded | 2002; 23 years ago (2002) |
| Website | www |
Shetab (Persian:شتاب,lit. 'Acceleration'), officially theInterbank Information Transfer Network (Persian:شبکه تبادل اطلاعات بین بانکی), is anelectronic banking clearance and automated payments system used inIran. The system was introduced in 2002 with the intention of creating a uniform backbone for the Iranian banking system to handleATM,EFTPOS 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 ordebit cards must be Shetab capable. As of the end of 2017, the Shetab system had 54,300 ATMs connected to it.[1]
Shetab was introduced in 2002, and now all card issuing banks in Iran are required to connect to the system.[2]
In 2005, thegovernment obliged theCentral Bank of Iran and theIranian banks, mostly state owned, to set up all the necessary infrastructures (regulatory, hardware, software) for fully launching e-money in Iran by March 2005. While this plan has not yet fully materialised, local debit/credit cards are now commonplace and have removed the main obstacle to the growth of e-commerce (in the national scale) as well as the full roll out of e-government initiatives.[3] By 2010 it is expected that 12 million cards would be issued, all of which work with the Shetab system.[4]
The Agricultural Bank (Keshavarzi Bank) was the first Iranian bank to connect to the Shetab system.[5]
In 2007, before the imposition of newsanctions against Iran, Tetra-Tech IT Company announced that usingVisa andMastercard is now possible for online sales and in Iranian e-card terminals at shopping malls, hotels, restaurants, and travel agencies for Iranians and foreign tourists.[6] Iran'selectronic commerce will reach 10,000 billion rials ($US1 billion) by March 2009.[7]
As of 2025, allIranian banks and some international banks inQatar,Kuwait andBahrain are members of the Shetab System, as follows:[1][13]
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 greaterefficiency, reduce crime, reduce money printing costs, and improve tax collection among other benefits.[4] 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 significant amounts of time organizing things in person and would consequently be able to conduct activities immediately over the phone or over theinternet.[4] The impact of the system is already being felt as corporations establishe-commerce,supply chains,online banking and retailing systems.[14][15]
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