Shetab Banking System

'Acceleration'), officially the Interbank Information Transfer Network (Persian: شبکه تبادل اطلاعات بین بانکی), is an electronic banking clearance and automated payments system used in Iran.

[1] Shetab was introduced in 2002, and now all card issuing banks in Iran are required to connect to the system.

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.

[5] In 2007, before the imposition of new sanctions against Iran, Tetra-Tech IT Company announced that using Visa and Mastercard 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.

[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 the internet.