Parsian E-Commerce Company

What Parsian E-Commerce Company does

Parsian E-Commerce Company (branded TOP, ticker RETAP on the Iran Stock Exchange) is one of Iran's largest licensed Payment Service Providers (PSPs), founded in 1383 (2004/2005) and headquartered in Tehran. Operating under Central Bank of Iran and Shaparak regulatory oversight, the company delivers an integrated payment stack covering POS terminals, internet payment gateways (IPG), payment card issuance on behalf of Parsian Bank, mobile top-up and bill payment, QR-based cardless payments (Kadpardaz TOP), and NFC cardless payments (Kahroba). It serves SMB and enterprise merchants as well as individual cardholders across Iran, distributed through approximately 50 TOP agencies and a broker network offering a stated 2-hour response time nationwide.

The company's revenue model is largely transaction-based and merchant-driven: mobile recharge and internet package sales dominate the monthly revenue mix (mobile recharge alone generated ~7.5 trillion Rials in Ordibehesht 1405), supplemented by POS terminal leasing (~500 million Tomans per terminal per year), IPG transaction fees, free insurance with affiliated commissions, and ETC toll processing. It monetizes through fee structures regulated by Shaparak and the Central Bank, with K-12 compliance and PCI standards requirements. The company is publicly listed, with a board chaired by Alireza Khodakarami and Ahmad Jafari as CEO, and operates subsidiaries including the Top super-app, TAPIA loyalty club, Kadoona (transaction technology), Safar Taban (travel), and Taban Ati Pardaz (insurance).

Name

Parsian E-Commerce Company

Legal name

Parsian E-Commerce Company (تجارت الکترونیک پارسیان)

Website

https://pec.ir

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Parsian E-Commerce Company (TOP, ticker RETAP) is one of Iran's largest licensed payment service providers, offering POS terminals, internet payment gateways, card issuance, and the TOP super-app to merchants and consumers under Central Bank of Iran and Shaparak oversight.

Ownership category

akta.pro rank

Product category

Payment Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

Keywords

• Payment services
• POS terminals
• Internet payment gateway
• Mobile payments
• Cardless payments

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Mobile Recharge and Internet Package Sales: Mobile airtime recharge and internet data package sales constitute the primary revenue driver. In Ordibehesht 1405, mobile recharge sales alone generated 7,514,310 million Rials in revenue, representing the dominant share of monthly revenue composition.
2. POS Device Leasing and Rental: Revenue from leasing POS (point-of-sale) terminals to merchants. Each new terminal costs approximately 500 million Tomans per year to deploy, contributing to recurring leasing revenue.
3. Internet Payment Gateway (IPG) Transaction Fees: Transaction-based fees from processing online payments through IPG services for e-commerce merchants.
4. Insurance Services (Free Insurance): Free insurance enrollment service for cardholders, with revenue derived from associated insurance commission structures.
5. Highway ETC Toll Payment: Electronic toll collection services for vehicles through the TOP application and POS network.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Parsian E-Commerce Company operates as a licensed Iranian Payment Service Provider (PSP) offering POS terminals, an Internet Payment Gateway (IPG), card issuance on behalf of Parsian Bank, the TOP super app for mobile payments, QR-based cardless payments (Kadpardaz TOP), and NFC-based cardless payments (Kahroba). It also delivers related services including mobile/internet recharge sales, bill payment, highway toll, insurance enrollment, ticket booking, and a centralized IVR customer service system, all supervised by the Central Bank of Iran and Shaparak.

Product overview

Parsian E-Commerce Company (PEC / TOP) operates as a Payment Service Provider (PSP) licensed by Iran's Central Bank and supervised by Shaparak, offering an integrated platform of payment and financial services. The core portfolio consists of the Top (تاپ) super app — a comprehensive mobile banking and payment application — which serves as the primary consumer-facing channel alongside the IVR phone system. Enterprise and merchant-facing products include the Internet Payment Gateway (IPG) for online stores, POS card terminals for physical merchants, and Parsian-branded payment cards. Add-on modules extend the platform's capabilities: Kadpardaz Top enables QR-based cardless mobile payments; Kahroba supports NFC-based cardless payments via smartphone; Topiya is a customer loyalty club; and the Merchant Portal and Desktop Services Platform provide self-service tools for POS and IPG management. The company also offers ancillary services including mobile/internet charge sales, bill payment, highway ETC toll, insurance, and tax registration.

Differentiator

Problem solved

Functional benefit

Brands

• Kahroba (کهربا): EMV-based cardless NFC payment system allowing customers to pay using mobile phones without physical bank cards at POS terminals.
• IPG / In-Gate Parsian (درگاه پارسیان)
• Top Super App (اپلیکیشن تاپ)
• TAPIA (تاپیا)
• Kadpozar / QR Payment (کدپرداز تاپ)
• IVR System (سامانه IVR)

Products and services

• TOP Super App (اپلیکیشن تاپ) A super app and mobile payment application providing card-to-card transfers, balance inquiry, mobile/internet recharge, bill payment, highway ETC toll payment, insurance purchase, ticket booking (bus, train, flights, tourist attractions), and QR/cardless payments. Operates under Central Bank of Iran and Shaparak supervision. Targeted at individual cardholders and the general Iranian public.
• Internet Payment Gateway - IPG (درگاه پرداخت اینترنتی) An online payment gateway enabling electronic payment for internet stores (e-shops), supporting both direct and indirect gateway modes, compliant with security standards. Merchants can request access via ipgautomation.pec.ir. Targeted at online merchants and e-commerce businesses.
• POS Terminal (کارتخوان فروشگاهی) Fixed and portable point-of-sale (POS) card terminals provided to merchants across Iran. The company maintains approximately 50 TOP agencies nationwide with broker companies in major cities, enabling rapid support response within a maximum of 2 hours anywhere in Iran. Targeted at merchants and retail businesses.
• Parsian Cards (کارت‌های پارسیان) Payment cards issued on behalf of Bank Parsian, enabling cash withdrawal and purchase of goods and services across the broadest network of retail and service outlets, as well as internet and mobile payment platforms. Targeted at cardholders of Parsian Bank.
• IVR Phone Response System (سامانه IVR) A centralized customer call center providing services to cardholders, merchants, receiving organizations, bank branches, and agencies via a unified request-receiving and service-delivery platform. Targeted at all Parsian E-Commerce stakeholders.
• Kahroba (کهربا) - Cardless NFC Payment System An EMV-based NFC contactless/cardless payment system. Cardholders can store virtual card data in the TOP app on their smartphone and pay by tapping the phone against NFC-enabled POS terminals, eliminating the need for a physical magnetic card. Targeted at cardholders and merchants.
• Kadpardaz TOP (کدپرداز تاپ) - QR-Based Mobile Payment System A QR code-based mobile payment system embedded in the TOP app, enabling merchants and consumers to conduct contactless cardless transactions using a smartphone and QR code scanning, without physical card usage. Targeted at merchants and consumers in retail and online commerce.
• Topiya (تاپیا) Loyalty Club A customer loyalty club app exclusive to Parsian E-Commerce Company, enabling cardholders, POS merchants, and IPG/QR merchants to access services, promotions, festival offers, and a network of discount centers. Targeted at Parsian cardholders and partner merchants.
• Desktop Services Platform (سامانه دسکتاپ) A desktop-based service platform (desktopweb.pec.ir) enabling merchants to receive various acceptance services, including POS terminal management, refund requests, IPG services, and tax registration. Targeted at merchants and acquiring partners.

Quantifiable outcome

• Ranked 1st in active internet payment tools (IPG) among all Iranian PSPs
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Tehran Tourism Organization (سازمان گردشگری تهران)coreStrategic or Co-development Partner · 28 February 1404Parsian E-Commerce Company equipped its POS terminals in Tehran tourist sites with Kahroba NFC cardless payment capability on the occasion of International Museum and Cultural Heritage Day, enabling tourists to pay using their smartphones at cultural heritage locations.
• Parsian Bank (بانک پارسیان)coreTechnology or Integration · 20 November 1403Parsian E-Commerce Company operates under the Parsian Bank financial group, issuing cards on behalf of Parsian Bank. The company co-exhibits with Parsian Bank at major events and shares infrastructure and customer bases.
• Refah Chain Stores (فروشگاه‌های زنجیره‌ای رفاه)coreStrategic or Co-development Partner · 12 December 1399Parsian E-Commerce Company partnered with Refah Chain Stores to launch QR-based mobile payment (Codpardaz TOP) enabling cardless in-store purchases through the TOP app. This was the first chain store in Iran equipped with mobile QR payment, launched in the context of COVID-19 hygiene concerns. The partnership combined retail operations with fintech payment infrastructure.
• Motahar University - Scientific and Applied University Portal (درگاه دانشگاه علمی کاربردی معتاز)minorOthersParsian E-Commerce provides a dedicated university portal for student and faculty services including payment solutions, under the 'Motahar' university portal initiative.
• Motamed Aval Samt (معتمد اول سام)minorChannel Partner/ Reseller/ DistributorListed as a cooperating company (شرکت همکار) on the Parsian E-Commerce website, suggesting a referral or distribution relationship.
• Central Bank of Iran (بانک مرکزی ج. ا. ا.)coreOthersAs a licensed PSP, Parsian E-Commerce operates under the regulatory oversight of the Central Bank of Iran, which sets security standards (PCI compliance), licensing requirements, and operational guidelines for all payment service providers.
• Shaparak (شاپرک - شبکه الکترونیکی پرداخت کارتی)coreOthersShaparak is the electronic card payment network operator that oversees, coordinates, and monitors all PSPs in Iran. Parsian E-Commerce is connected to Shaparak's switching infrastructure for processing all card-based transactions. Shaparak publishes monthly economic reports that rank PSP performance.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Checkout.com: Global payment processor serving online merchants with gateway and acquiring services. Comparable IPG/processing business model to TOP's internet acceptance leadership.
• BehPardakht Mellat: Iranian PSP affiliated with Bank Mellat, operating POS terminals and IPG services in direct competition with TOP within Iran's Shaparak-regulated market.
• Saman Kish Electronic Payment: PSP affiliated with Saman Bank providing POS, IPG and payment services in Iran. Direct in-market competitor under the same Shaparak regulatory framework.
• Adyen: Global integrated payment processor combining merchant acquiring, gateway and POS acceptance. Comparable business model to TOP's combined POS + IPG + card issuance stack, though at global scale and operating in open cross-border rails.
• IranKish (Mellat Card Services): Established Iranian payment processor offering card and POS services. Direct PSP competitor benchmarked alongside TOP in Shaparak monthly performance rankings.
• Fanava Group: Iranian fintech and payment services group operating POS terminals and electronic payment infrastructure. Comparable PSP competitor in the domestic Iranian market.
• Pasargad Electronic Payment: PSP affiliated with Bank Pasargad providing POS, IPG and gateway services in Iran. Another in-market competitor operating under identical Shaparak oversight.
• Block (Square): Operates an integrated payments platform spanning POS hardware, software, and a consumer Cash App super-app. Closest analog to TOP's POS-to-super-app omnichannel strategy.
• Stripe: Online payment gateway/PSP for merchants and digital platforms. Comparable to TOP's IPG business which leads Iran in active internet acceptance tools.

Regional players

• Network International: Leading Middle East and Africa payment processor offering merchant acquiring and processing. Closest regional peer to TOP's PSP role, though serving open-market geographies.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Parsian-E-Commerce-186900181339319
• LinkedInlinkedin.com/company/pec-ir

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parsian E-Commerce Company