What Vandar does

Vandar (وندار) is a Tehran-based, privately held Iranian fintech company founded in 2019 that operates as a Shaparak-licensed payment service provider delivering an integrated electronic payments and embedded banking platform to Iranian businesses. Its product portfolio spans four categories: payment products (Internet Payment Gateway, Direct Debit / automatic recurring payments, Payment Forms), settlement products (Paya and account-to-account payouts), embedded banking (Avand — business bank account management via API), and operational products (customer identity verification/KYC, Kerdar financial reporting, and Miando escrow / secure transaction). The platform is built on a REST API architecture with JSON payloads and Bearer-token authentication, exposed via api.vandar.io and documented at docs.vandar.io, with Postman collections and a JavaScript SDK available for developer onboarding.

Underlying integrations connect Vandar directly into Iran's regulated financial infrastructure — Shaparak for gateway routing and bank-level integrations with Melli, Keshavarzi, Parsian, and Tejarat to power Direct Debit. Beyond APIs, the company has built one of the broadest plugin ecosystems in the Iranian market, covering WordPress/WooCommerce, Easy Digital Downloads, PaidMemberships Pro, Gravity Forms, LearnPress, Restrict Content Pro, WP User Frontend, Contact Form 7, WPForms, PrestaShop, OpenCart, nopCommerce, a full Joomla extension suite, and a Laravel Cashier package, developed in partnership with Payzito.

Vandar generates revenue through transaction-based fees rather than subscriptions: payment form fees range from 500 to 6,000 Tomans per transaction under Central Bank-imposed caps (minimum 1,000 Tomans, per-form ceiling 50M Tomans, per-national-ID ceiling 100M Tomans). Additional fee streams come from Direct Debit, settlement services (instant, batch, and queued A2A/PAYA/SATNA), inquiry services (KYC, Shahkar mobile-to-national-ID matching, IBAN/card verification, company lookup), and card issuance via Ravand. Distribution combines direct enterprise API sales, a self-serve SMB dashboard at dash.vandar.io, plugin-based onboarding, and white-label/OEM delivery through embedded banking and card issuance. Named customers include Snapp, Tapsi, Namava, Filimo, Filmnet, Alopeyk, Blue Bank, Karnameh, Tara, Wallex, and Bitbarg across transportation, streaming, logistics, banking, education, and crypto verticals.

Name

Vandar

Legal name

Vandar (وندار)

Website

https://vandar.io

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Vandar is an Iranian fintech company operating a Shaparak-licensed, API-first platform that combines payment gateway, recurring direct debit, escrow, settlement, and embedded banking services for Iranian businesses ranging from SMBs using payment forms and plugins to enterprises such as Snapp, Tapsi, Namava, and Filimo.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

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

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

Keywords

• Payment gateway services
• Direct debit processing
• Embedded banking solutions
• Escrow transaction services
• Online payment processing

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Transaction/Payment Processing Fees: Vandar charges transaction fees for payment gateway services. Fees vary based on transaction amount and type. For payment forms, fees range from 500 to 6,000 Tomans per transaction. The maximum transaction limit is 100 million Tomans per transaction under Central Bank regulations.
2. Direct Debit Services: Fees charged for automated recurring payment collection services where businesses collect periodic payments from customers with bank authorization.
3. Settlement Services: Fees for money transfer and settlement services including instant transfers, batch settlements, and queued settlements. Supports A2A, PAYA, and SATNA transfer methods.
4. Inquiry Services: Fees charged for various inquiry/verification services including KYC, Shahkar (mobile-number-to-national-code matching), IBAN verification, card-to-IBAN conversion, company information lookup, and postal code address lookup.
5. Card Services (Ravand): Revenue from card issuance services including branded debit cards, credit allocation, and related banking operations through the embedded banking platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Vandar provides an integrated fintech platform for Iranian businesses that combines online payment acceptance (Internet Payment Gateway), recurring/automated billing (Direct Debit), escrow protection (Miando), settlement services (Paya and A2A), embedded banking (Avand), customer identity verification, and financial reporting under a single API-first stack. The platform is accessed via REST APIs, a self-serve dashboard, and pre-built plugins for major e-commerce/CMS systems, with the offering tightly integrated into Iran's Shaparak network and multiple partner banks.

Product overview

Vandar is an Iranian fintech company offering a comprehensive and integrated suite of electronic payment, settlement, and financial management solutions for businesses. The product portfolio consists of a unified platform with multiple modular products organized into four main categories: Payment Products (Internet Payment Gateway, Direct Debit/Automatic Payment, Payment Form), Settlement Products (Paya Settlement, A2A Settlement), Embedded Banking (Avand), and Operational Products (Customers/KYC, Kerdar/Data Visualization, Financial Reports, Miando/Secure Transaction). The products are designed to work together as a cohesive financial toolkit accessible through a single dashboard, with full API support for developer integration.

Differentiator

Problem solved

Functional benefit

Brands

• Avand (آوند): Embedded banking product for business banking services
• Kerdar (کردار)
• Miando (میاندو)

Products and services

• Internet Payment Gateway (IPG) Secure online payment gateway for Iranian businesses, providing a connection point between merchants and Iran's banking/electronic payment system (Shaparak) for processing online transactions, supporting both one-step and two-step payment flows with smart bank switching.
• Direct Debit (Automatic Payment) Automated recurring payment service allowing businesses to collect periodic payments from customers' bank accounts with one-time customer authorization. Designed for subscription-based business models and integrated with Bank Melli, Keshavarzi, Parsian, and Tejarat.
• Payment Form Personalized, no-code payment form for small businesses, freelancers, and sole proprietors, allowing them to generate custom payment pages in their Vandar account and share a link to receive payments without needing a website. Fees range from 500 to 6,000 Tomans per transaction.
• Paya Settlement Settlement service allowing businesses to transfer funds outside the Paya cycle to desired Iranian bank accounts, with instant settlement options to expedite payouts to beneficiaries, partners, and customers.
• A2A Settlement (Account-to-Account) Account-to-account settlement service enabling businesses to transfer funds to any IBAN in Iran's banking system, allowing instant settlement to beneficiary accounts outside the standard Paya cycle.
• Avand (Embedded Banking) Embedded banking service enabling businesses to link their IBANs, view balances and statements, and perform settlement and account operations through Vandar's API, supporting enterprise banking management at scale.
• Customer Verification and KYC (Customers) Customer identity verification and KYC service aggregating financial interactions, enabling businesses to authenticate users, run Shahkar (mobile-to-national-ID) checks, and view consolidated customer financial behavior across IBANs and cards.
• Kerdar (Financial Data Visualization) Financial data visualization and business intelligence tool that provides standardized visual formats of financial data to support long-term decision-making and business analytics for Vandar merchants.
• Financial Reports (گزارش‌های مالی) Intelligent financial assistant providing standardized, audit-ready deposit and withdrawal reports broken down by month and day for merchant financial reporting and compliance needs.
• Miando (Secure Transaction / Escrow) Escrow service that creates trust and security for online and offline transactions, holding buyer funds with Vandar until the buyer confirms delivery of goods or services, at which point funds are released to the seller.

Named customers11 records

Segments6 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

Feature8 records

Partnerships

Two partnerships are on record, tiered core.

• Payzito (پی زیتو)coreTechnology or IntegrationPayzito is a development partner for Vandar's WordPress and Joomla plugins. The partnership enables Vandar to distribute and maintain payment gateway plugins for popular CMS platforms through Payzito's distribution network. Plugins developed in collaboration include WooCommerce, Easy Digital Downloads, PaidMembership, GravityForm, LearnPress, RestrictContentPro, WP User Frontend, Contact Form 7, WPForms, RSMembership, j2store, Virtuemart, RS Form, K2 Store, HikaShop, and JoomShopping integrations.
• Shaparak (شاپرک)coreTechnology or IntegrationShaparak is Iran's central electronic payment network operator. Vandar operates as a licensed payment service provider under Shaparak's infrastructure, enabling internet payment gateway services for online merchants. All payment gateway transactions flow through Shaparak's network, and Vandar's terminal/shop ID registration is managed through this partnership.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Adyen: Global unified payments platform combining gateway, processing and financial services for enterprise merchants. Comparable to Vandar in its integrated gateway-plus-settlement-plus-embedded-banking positioning, though serving cross-border enterprise customers at much larger scale.
• Stripe: Global API-first payment gateway and platform serving internet businesses with developer tools, plugins and embedded financial services. Comparable to Vandar in product surface (payment gateway, recurring billing, embedded finance, developer-first APIs), though operating in non-sanctioned markets at vastly larger scale.
• PayU: Global payment service provider offering gateways, acquiring and credit products across emerging markets including the Middle East. Comparable to Vandar in gateway-plus-financial-services mix and in emerging-market merchant focus.

Direct peers

• IDPay: Iranian payment gateway offering IPG, payment forms and developer APIs, with broad plugin support for Iranian e-commerce platforms. Closely comparable to Vandar in target segment (Iranian SMB and enterprise online merchants) and product surface area.
• Sadad (Shaparak PSP): State-affiliated Iranian payment service provider operating on the Shaparak network, offering IPG and merchant acquiring services to Iranian businesses. Comparable as a Shaparak-licensed competitor serving the same merchant base as Vandar.
• Behpardakht (Mellat Bank Payment Gateway): Mellat Bank's online payment gateway and PSP service, offering IPG and merchant settlement to Iranian e-commerce businesses. Comparable to Vandar as a bank-affiliated payment gateway operating on the same Shaparak rails.
• Saman Bank Electronic Payment: Saman Bank's online payment gateway services for Iranian merchants, operating on the Shaparak network. Comparable to Vandar's IPG and merchant-settlement offering from a bank-affiliated PSP perspective.
• ZarinPal: Iran's largest online payment gateway, providing IPG, payment links and developer APIs for SMBs and enterprises. Directly comparable to Vandar's payment-gateway and settlement offering for Iranian merchants.

Emerging players

• Razorpay: Indian payment gateway and fintech platform serving SMBs and developers with APIs, plugins, recurring billing and embedded finance. Comparable to Vandar in SMB-focused, developer-first gateway strategy and in offering an evolving stack of adjacent fintech services.

Others

• Blue Bank: Iranian digital-only neobank offering consumer banking, cards and merchant services. Listed as a Vandar customer, but relevant as a vertically integrated competitor in the same embedded-banking and card-issuance white-label space Vandar targets with Avand and Ravand.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• GitHubgithub.com/vandarpay
• LinkedInlinkedin.com/company/vandar
• Xx.com/vandarpay
• Facebookfacebook.com/vandarpay

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 Vandar