Saman Electronic Payment

What Saman Electronic Payment does

Saman Electronic Payment (SEP, پرداخت الکترونیک سپ), founded in 2003 and headquartered in Tehran, is Iran's largest licensed Payment Service Provider (PSP) by transaction count, operating under Bank Saman and connected directly to the Shaparak national payment switch supervised by the Central Bank of Iran. Its core product surface spans POS card readers (portable, fixed, Android smart POS, mPOS), a direct internet payment gateway (IPG) with split-payment/marketplace settlement, the 724 mobile app, *724# USSD payments, NFC mobile payments, QR-based acceptance, the Bahar electronic wallet, gift and prepaid cards, the Baman customer loyalty program, and the Shetab-Mir cross-border network linking Iran's Shetab with Russia's Mir. The technology stack is anchored to Shaparak and includes AI-based fraud/AML monitoring, blockchain-based transaction transparency claims, and a developer-facing SDK and API with split-payment parameters.

The company monetizes primarily through transaction fees and merchant commissions on POS and IPG volumes, supplemented by POS device sales and rentals (both personal/owned and bank-guaranteed models), gift/prepaid card issuance, and digital service fees across wallet and mobile channels. SEP serves a broad customer base including SMEs and retailers acquiring POS terminals, e-commerce platforms integrating IPG (including marketplaces using split settlement), large enterprises (e.g., industrial conglomerates, retail chains), partner banks that co-distribute payment services, government entities such as Iran Customs, and individual consumers via 724/USSD/QR. Its publicly named enterprise customers include DigiKala, Snapp, Divar, Basalam, Cafe Bazaar, Myket, Hamrah-e Aval, Hyperstar, Okala, Mapna, and Foolad, alongside financial institutions Saderat, Keshavarzi, Refah, and parent Bank Saman.

SEP is publicly listed on the Iranian stock exchange under ticker SEP and is incorporated as Saman Electronic Payment Kish Company. It holds Shaparak rank #1 in total transaction count across all payment instruments in Iran (FY 1404) and the highest share in internet and mobile transaction tools, and it has been the recipient of the World Business Oscar award. Distribution runs through SEP's own branch network, partner bank branches across Iran, and online self-serve merchant portals (my.sep.ir, merchant.sep.ir). Recent strategic activity has focused on cross-border payments (Shetab-Mir with Russia), accessibility (visually-impaired gateway), digital wallet expansion (Bahar), and NFC/QR modernization of the acceptance layer.

Name

Saman Electronic Payment

Legal name

شرکت پرداخت الکترونیک سامان کیش (Saman Electronic Payment Kish Company)

Website

https://sep.ir

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Saman Electronic Payment (SEP) is Iran's largest licensed Payment Service Provider (PSP), offering POS terminals, internet payment gateways, mobile and USSD payments, NFC/QR acceptance, an electronic wallet, and the Shetab-Mir cross-border network, serving SMEs, large enterprises including DigiKala and Snapp, partner banks, government entities, and individual consumers.

Ownership category

akta.pro rank

Product category

Payment Processing / Electronic Payment Services

NAICS

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

SIC

Finance Services (6199), Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC), EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG), Alternative Payment Method (APM) Acquiring (e.g., BNPL, wallets, local methods) (FSAMABAL)

Keywords

• Electronic payment services
• POS terminals
• Payment gateway
• Mobile payments
• PSP services

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Transaction Fees / Merchant Commission: SEP earns commission on each payment transaction processed through its POS terminals and internet payment gateways. As a PSP, it charges transaction-based fees to merchants (پذیرندگان). The fees vary by transaction type and merchant category.
2. POS Device Sales and Rental: SEP sells and rents POS devices to merchants. Both owned (تملیکی/personal) and bank-guaranteed (امانی/rental) POS models are available, providing device-related revenue streams.
3. Internet Payment Gateway Services: SEP provides internet payment gateway services to e-commerce businesses, charging transaction fees for online payment processing. Shared/affiliate gateway services for marketplaces (درگاه پرداخت اشتراکی) are also offered.
4. Mobile and Digital Payment Services: SEP generates revenue from mobile app services (724 app), USSD payments, QR payments, and electronic wallet transactions (Bahar wallet), primarily through transaction-based fees.
5. Gift Card and Prepaid Card Issuance: SEP issues gift cards (کارت هدیه) and prepaid purchase cards (کارت خرید سپ) to consumers and businesses, with issuance fees and transaction charges.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Saman Electronic Payment (SEP) is Iran's leading licensed Payment Service Provider (PSP), directly connected to the Shaparak national payment switch and supervised by the Central Bank of Iran. It sells and rents POS card-reader hardware (portable, fixed, Android smart POS, mPOS), operates a direct Internet Payment Gateway (IPG) with split-payment (marketplace) settlement, and provides consumer-facing mobile payments via the 724 app, USSD (*724#), QR, NFC, and the Bahar electronic wallet, alongside gift/prepaid cards and the Baman loyalty program.

Product overview

Saman Electronic Payment (SEP/سپ) is Iran's leading PSP (Payment Service Provider) offering a comprehensive electronic payment platform. The portfolio includes card reader hardware (POS) devices for in-store payments, direct internet payment gateway (IPG) for e-commerce, mobile payment solutions (724 app, USSD codes, NFC), electronic wallet (Bahar), prepaid/gift cards, customer loyalty programs (Baman), and cross-border payment networks (Shetab-Mir). The company leverages AI for fraud detection and blockchain for transaction transparency, positioning itself as a strategic partner in digital economy development serving Iran's top businesses including DigiKala, Snapp, and major banks.

Differentiator

Problem solved

Functional benefit

Brands

• 724 Application: Mobile application for card-to-card transfers, mobile charging, bill payments, and charity contributions
• Bahar Wallet (کیف پول بهار)
• Baman Club (باشگاه مشتریان بامن)

Products and services

• SEP POS Card Reader (کارت‌خوان سپ) Hardware POS devices enabling merchants to accept in-store card payments, available in portable, fixed, Android smart POS, and mPOS variants with NFC contactless support and installation/support services. Sold or rented (owned/تملیکی or bank-guaranteed/امانی).
• SEP Internet Payment Gateway (IPG) (درگاه پرداخت اینترنتی سپ) Direct internet payment gateway (PSP-grade, not intermediary aggregator) providing secure online card payment processing for e-commerce businesses, with API documentation, merchant reporting panels, settlement services, and PCI DSS-aligned security. Accessible to both individual (حقیقی) and legal-entity (حقوقی) merchants.
• SEP Cards — Gift Cards and Purchase Cards (کارت هدیه و کارت خرید سپ) Prepaid gift cards with customizable designs, denominations, and personalized messages, plus prepaid purchase cards usable at any Shetab-enabled POS or online merchant via SEP's internet gateway. Target buyers include consumers for gifting and corporates for incentive/loyalty programs.
• 724 Mobile Application (اپلیکیشن 724) Consumer mobile app for card-to-card transfers, bank card balance inquiry, mobile top-up purchase (Irancell, Hamrah-e Aval, Rightel), bill payments (landline and mobile), and charity donations, available on iOS and Android via 724.ir/download/.
• USSD Payment Service (*724#) (کد دستوری #724*) USSD-based mobile payment service accessible via dial code *724# on any mobile phone (including basic/feature phones), enabling card-to-card transfers, bill payments, and balance inquiry without requiring internet or a smartphone.
• Bahar Electronic Wallet (کیف پول الکترونیکی بهار) Online digital wallet providing credit account functionality on mobile and computer, enabling instant online and offline transactions via QR scanning and cardless payments for in-store and internet purchases. Operated in partnership with Bahar Finance.
• Baman Customer Club (باشگاه مشتریان بامن) Customer loyalty program enabling users to find nearby stores and discount centers, earn rewards and points, receive weekly coupons, and participate in weekly prize drawings.
• Shetab-Mir Cross-Border Payment Network (شبکه پرداخت شتاب-میر) Cross-border payment network connecting Iran's Shetab card-switch system with Russia's Mir card system, enabling financial transactions between Iranian and Russian cardholders.
• SEP Mobile Payment SDK (کیت توسعه نرم‌افزار سپ) Software Development Kit for mobile payment integration, enabling third-party developers to embed NFC-based mobile payments and card-to-card functionality into mobile applications.
• Split Payment Gateway (درگاه پرداخت اشتراکی) Marketplace payment gateway that automatically splits a single customer transaction among multiple IBAN beneficiaries (sellers, platform commission, partners, affiliates) according to Shaparak regulations, with settlement per transaction.

Quantifiable outcome

• Rank #1 in total transaction count across all payment instruments in Iran — fiscal year 1404
• +4 more outcomes

Named customers31 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability2 records

Feature9 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Bank Saman (بانک سامان)coreStrategic or Co-development PartnerSEP (Saman Electronic Payment) operates as the payment arm of Bank Saman, leveraging the bank's infrastructure and customer base. This affiliated relationship provides SEP with deep integration into the Saman Financial Group ecosystem.
• Saderat Bank (بانک صادرات)majorChannel Partner/ Reseller/ DistributorSaderat Bank distributes SEP's payment services through its branch network across Iran, enabling merchant acquisition and POS device deployment through the bank's extensive physical presence.
• Keshavarzi Bank (بانک کشاورزی)majorChannel Partner/ Reseller/ DistributorKeshavarzi Bank partners with SEP to offer payment services to agricultural sector merchants and the bank's customer base.
• Refah Bank (بانک رفاه)majorChannel Partner/ Reseller/ DistributorRefah Bank distributes SEP payment services through its branch network for merchant payment acceptance.
• Shaparak (شاپرک)coreTechnology or IntegrationSEP is a licensed PSP connected directly to the Shaparak national electronic payment network. Shaparak provides the regulatory and infrastructure backbone for all of SEP's payment services including POS, internet gateway, and mobile payments.
• Central Bank of Iran (Bank Markazi)coreTechnology or IntegrationSEP operates under the regulatory supervision of the Central Bank of Iran as a licensed Payment Service Provider (PSP), adhering to all monetary and payment regulations.
• Tax Affairs Organization of Iran (سازمان امور مالیاتی)coreTechnology or IntegrationSEP's POS and payment systems are connected to the Iranian Tax Affairs Organization's system, enabling merchants' transaction data to feed into tax records and enabling tax code (کد مالیاتی) assignment for each payment terminal.

Scale indicators5 records

Recent moves3 records

Expansion highlights6 records

Broad incumbents

• Verifone: Global POS terminal manufacturer and payment infrastructure provider. Comparable to SEP's POS hardware business (sales/rental of card readers including Android smart POS), though Verifone operates as a hardware specialist across many markets.
• Adyen: Global integrated payment processor offering POS, e-commerce, and omnichannel acquiring at scale. Comparable to SEP as a multi-rail, multi-product PSP serving enterprise merchants — albeit in a far larger and more diversified geography.

Direct peers

• ZarinPal: Leading Iranian payment gateway aggregator serving major e-commerce platforms. Operates as an intermediary gateway on top of underlying PSPs like SEP, competing for the same online merchants.
• Behpardakht Mellat: One of Iran's largest licensed PSPs and a direct competitor to SEP. Operates the Shaparak-connected payment switch for Bank Mellat and competes head-to-head for nationwide POS, internet gateway, and mobile transaction volumes.
• Sadad (Saman's) Electronic Payment rival — Sad Informatics PSP: Licensed Iranian PSP operating POS and internet gateway services. Direct competitor to SEP in the Shaparak-connected PSP category, often ranked alongside SEP, Behpardakht, and Irankish as one of Iran's top PSPs.
• Asan Pardakht (AP): Iranian PSP licensed by the Central Bank, offering POS and payment gateway services. A direct Shaparak-connected competitor to SEP in the merchant acquiring category.
• Zibal: Iranian payment gateway and fintech platform providing internet payment gateway, card-to-card, and settlement services for online merchants. Direct overlap with SEP's IPG and consumer app offerings.
• Digipay: Iranian fintech/payment platform that is both a customer of SEP's infrastructure and a competing payment service provider. Overlaps with SEP on consumer payments, wallet, and digital banking.
• Irankish: Major Iranian PSP affiliated with KISH Credit Card Co., offering POS terminal, internet payment gateway, and mobile payment services competing with SEP across Iran's merchant base.
• Parsian Electronic Payment (Pardakht Electronic Parsian): Iranian PSP affiliated with Parsian Bank. Competes directly with SEP in POS terminals and internet payment gateways for Iranian merchants, with similar Shaparak-connected infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInir.linkedin.com/company/sep-company
• Instagraminstagram.com/sep_ir

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Saman Electronic Payment