724.ir

What 724.ir does

724.ir is a mobile-first payment super-app serving Iranian mass consumers, operated by Saman Electronic Payment (SEP) (پرداخت الکترونیک سامان), a Central Bank of Iran-licensed payment processor. The platform aggregates 30+ services across five categories — financial (card-to-card transfers, Sayad cheque management, NFC payments, credit validation, goods loans), mobile (airtime and data packages, postpaid bill payment for MCI/Irancell/Rightel), utilities (water, electricity, gas, landline phone, social security insurance), vehicle (traffic fines, highway tolls, license inquiry, parking), and other (charity donations, judiciary payments) — accessible via Android app, iOS app, web PWA, and the legacy *724# USSD channel. The technical architecture is built on direct integrations with the national Shaparak card switch, Iranian mobile operator billing systems, and government billing platforms, enabling real-time bill inquiry and payment confirmation that the company contrasts with multi-day delays from indirect payment methods.

724 claims over 30 million registered card holders in Iran — a market where the total active card base is on the order of 55-60 million — and reports the highest user rating among Iranian payment apps on Google Play and Cafe Bazaar, alongside three wins of the Irantopbrands consumer favorite award. Distribution is product-led: multi-store Android and iOS distribution, organic SEO through a Persian-language online magazine, USSD-based zero-data entry, and a loyalty/referral program (Baman) with high-value prize draws (iPhone 17, PS5 Pro). SEP also holds ISO 27001 information security certification.

The business model is transaction-driven with no subscription or membership fee for consumers. Revenue is generated from: (1) take rates on card-to-card transfers and bill payments processed through the Shaparak network; (2) margins on mobile airtime and data bundle sales across all three Iranian operators; and (3) — as a newer 2025 layer — referral commissions on goods loans originated through Balon and BluBank and redeemable at 30+ partner merchants including Digikala. The company is privately held by SEP with no disclosed funding rounds; headcount is reported at 11-50 employees, consistent with an asset-light, high-leverage operating model.

Name

724.ir

Legal name

Saman Electronic Payment (SEP) (پرداخت الکترونیک سامان)

Website

https://724.ir

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

724.ir is an Iranian mobile payment super-app operated by Saman Electronic Payment (SEP), aggregating bill payment, card-to-card transfer, mobile top-up, traffic fines, charity, and consumer credit services for over 30 million registered Iranian cardholders via mobile app and USSD.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

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

SIC

Finance Services (6199)

akta.pro primary industry

Super-App Wallets & Mini-Program Payments (FSAMAEAE)

akta.pro secondary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Mobile payments
• Bill payment services
• Card to card transfer
• Mobile recharge top-up
• Payment super-app

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Card-to-card (P2P) and bill payment transaction fees: 724 earns a take rate on each card-to-card transfer and bill payment processed through its platform. Transaction fees are charged per transaction and represent the core revenue stream from the Shaparak payment network.
2. Loan product referral commissions: 724 facilitates instant consumer loans for goods (up to 85 million tomans) in partnership with Balon/BluBank, earning a commission for each loan originated through the platform. Over 30 partner stores including Digikala are onboarded for this service.
3. Mobile credit and data plan sales: 724 sells mobile airtime (شارژ) and internet data packages for all three major Iranian operators (MCI/همراه اول, Irancell/ایرانسل, Rightel/رایتل), earning a margin on each top-up and data bundle sold.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

724.ir is a mobile payment super-app that aggregates Iranian consumer payment and financial services into a single Android, iOS, and web PWA application (with USSD *724# fallback). Its core offerings include Shetab card-to-card transfers, real-time utility bill payment (water, electricity, gas, landline, mobile postpaid), prepaid mobile credit and internet data packages for all three Iranian operators (MCI, Irancell, Rightel), Sayad cheque inquiry, traffic violation and highway toll payment, charity donations, judiciary payments, social security insurance premium payment, NFC contactless payments (Kahrba), and instant goods loans up to 85 million tomans via partner lenders.

Product overview

724.ir is a super-app (سوپر اپلیکیشن) for mobile payments and financial services in Iran, operated by Saman Electronic Payment (SEP). The platform offers a unified mobile app and USSD service (*724#) covering bill payments, mobile top-ups, card-to-card transfers, check management, traffic fines, highway tolls, and credit services. The core offering is a unified payment super-app with approximately 30+ individual services organized into five main categories: Financial (card-to-card, balance inquiry, Sayad checks, credit validation, NFC, loan), Mobile (top-up, internet packages, mobile bills), Bills (water, electricity, gas, landline, mobile operators, social security), Vehicle (traffic fines, highway tolls, license inquiry, parking), and Other (charity, judicial payments). Add-on modules include the Baman loyalty program and a referral campaign. The parent company is پرداخت الکترونیک سامان (Saman Electronic Payment, SEP).

Differentiator

Problem solved

Functional benefit

Brands

• Baman (بامن): Customer loyalty club within the 724 app that rewards users with discount credits (Monax) for transactions and referrals.

Products and services

• Card-to-Card Transfer (کارت به کارت) Instant money transfer between any Shetab-network bank cards through the 724 mobile app, available to all Iranian card holders.
• Mobile Top-up (شارژ موبایل) Purchase of prepaid mobile credit (airtime) for all three Iranian operators (MCI/Hamrah-e Aval, Irancell, Rightel) with instant delivery.
• Internet Data Packages (بسته اینترنت) Purchase, comparison, and activation of data packages for all three Iranian mobile operators.
• Utility Bill Payment (پرداخت قبوض) Inquiry and payment of utility bills for water, electricity, gas, and landline phone through a single platform with real-time confirmation.
• Mobile Bill Payment (قبض موبایل) Inquiry and payment of postpaid mobile bills for MCI/Hamrah-e Aval, Irancell, and Rightel lines.
• Card Balance Inquiry (موجودی کارت) Real-time balance check for any Shetab bank card without logging into individual banking apps.
• Sayad Cheque Services (چک صیاد) Inquiry, validation, and management of issued and received Sayad (centralized) cheques for both drawer and beneficiary through the app.
• Traffic Violation Payment (خلافی خودرو) Inquiry and payment of vehicle traffic fines and violation points using license plate number.
• Motorcycle Traffic Violation Payment (خلافی موتورسیکلت) Inquiry and payment of motorcycle traffic violations and fines.
• Highway Tolls Payment (عوارض آزادراه) Inquiry and payment of highway tolls within the legally mandated 15-day deadline to prevent penalty accumulation.
• License Penalty Score Inquiry (نمره منفی گواهینامه) Inquiry of negative driving license penalty points.
• Driver License Details Inquiry (استعلام گواهینامه) Detailed inquiry of driver's license information and status via the app.
• Municipal Parking Payment (پارکینگ) Payment of municipal parking fees through the app.
• Charity and Donations (نیکوکاری) Donations to registered charitable organizations categorized by cause, with tax deductibility.
• Judiciary Payments (قوه قضاییه) Payment of judiciary-related fees and charges using court-provided payment reference IDs via API integration with the Iranian Judiciary's payment system.
• Social Security Insurance Payment (بیمه تامین اجتماعی) Payment of Social Security Insurance premiums, available exclusively through 724.
• Credit Validation (اعتبارسنجی) Credit scoring and validation service for users.
• NFC Contactless Payment (پرداخت با NFC / کهربا) Cardless contactless payment using NFC technology via SEP-branded POS terminals integrated with the 724 app.
• Deposit ID / Reference Bill Payment (پرداخت با شناسه) Payment of bills and invoices using unique deposit reference IDs for government and organizational payments, with automatic validation.
• Instant Goods Loan (وام فوری کالا) Instant consumer credit for purchasing goods up to 85 million tomans, sourced through Balon and BluBank and redeemable at 30+ partner merchants including Digikala. Requires minimum 500 loyalty points and a Sayad cheque.
• Baman Customer Loyalty Program (بامن) Loyalty and rewards program offering 'Minks' (منکس) discount credits and points earned through app transactions, usable for discounted purchases within 724.
• Referral Campaign (دعوت پارتی ۷۲۴) Referral campaign rewarding users who invite friends who complete qualifying card-to-card transactions with prize-draw entries for iPhone 17, PS5, and PS5 Pro.

Quantifiable outcome

• Real-time payment confirmation (30 min–2 hours for landline phone vs. up to 72 hours with indirect methods)
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• Balon and BluBank (بالون و بلوبانک)coreStrategic or Co-development Partner724 partners with Balon and BluBank to offer instant goods loans (up to 85M tomans, 23% interest rate) to qualified users. Loan applicants need 500+ loyalty points in the app, a Sayad cheque, and a BluBank account. Disbursement occurs within 72 hours. 724 earns a referral commission per loan originated.
• Partner merchants for goods loans (Digikala, Digiland, Teknolife, and 30+ others)coreGTM or Marketing PartnerMore than 30 merchant stores including Digikala, Digiland, and Teknolife are onboarded as partner outlets where users can redeem the loan credit issued through 724's loan service. These merchants expand the reach of 724's loan product.
• پرداخت الکترونیک سامان (SEP / Saman Electronic Payment)coreOEM/ Whitelabel/ Licensing Partner724 is a product of پرداخت الکترونیک سامان (SEP), the licensed payment processor that owns and operates the 724 brand. SEP provides the underlying payment infrastructure, Shaparak network connections, and regulatory licensing (Central Bank of Iran). SEP also provides SEP-branded POS terminals used for NFC contactless payments (Kahrba service) integrated with the 724 app.
• Iranian Mobile Operators (MCI/همراه اول, Irancell/ایرانسل, Rightel/رایتل)coreTechnology or Integration724 integrates with all three major Iranian mobile operators' billing systems to offer real-time airtime purchase, data plan activation, and bill payment for postpaid lines. The company highlights that some services (e.g., Social Security Insurance payment) are exclusively available via 724.
• Shaparak Network (شبکه الکترونیکی پرداخت کارت)coreTechnology or Integration724 processes card-to-card transfers and bill payments through Iran's national card payment switch (Shaparak), connecting all Iranian bank cards. This infrastructure underpins the core transaction revenue model.

Scale indicators4 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• OVO: OVO is one of Indonesia's largest e-wallets, offering bill payment, P2P transfers, mobile top-up, and merchant payments. Its multi-service super-app positioning and emerging-market consumer focus make it a comparable reference for 724.
• Kakao Pay: Kakao Pay is South Korea's leading mobile payment and super-app platform, offering bill payment, P2P transfers, loans, and insurance. Its successful pivot from payments to higher-margin financial services illustrates a comparable trajectory that 724 is beginning with its instant goods loan product.
• PhonePe: PhonePe is one of India's largest UPI-based payment apps, offering bill payment, recharges, P2P transfers, and financial services. Its product breadth and consumer-only super-app positioning make it a comparable reference point for 724's aggregated payment model.
• GCash: GCash is the Philippines' dominant mobile wallet and super-app, offering bill payment, P2P transfers, mobile load, and merchant payments. Its scale (~80M+ users) and breadth of biller integrations make it a directly comparable benchmark for 724's aggregation strategy and unit economics.
• Paytm: Paytm is India's leading mobile payments super-app, offering bill payment, mobile recharge, P2P transfers, and merchant payments. It serves as the closest international analog to 724's mobile-first super-app model targeting mass-market consumers in a large emerging market.

Emerging players

• Bale (بله): Bale is an Iranian messaging super-app with integrated payment, bill payment, and merchant services. It competes with 724 by leveraging its messaging user base for financial service distribution, representing a meaningful emerging threat in the Iranian payment aggregator space.
• Snapp Pay: Snapp is Iran's leading ride-hailing super-app and has been expanding into adjacent financial services including payments and digital wallet functionality. As a domestic Iranian super-app with a different anchor vertical (mobility), it represents an emerging adjacent competitor to 724 in the consumer fintech space.

Direct peers

• Sadad (سداد): Sadad is an Iranian payment service provider (PSP) and subsidiary of Bank Melli that offers card-to-card transfers, bill payment, and mobile top-up services via a mobile app and web channel. It directly competes with 724 in the same Iranian consumer payment aggregator niche with comparable Shaparak-based fee monetization.
• Behpardakht Mellat (به‌پرداخت ملت): Behpardakht is an Iranian PSP owned by Bank Mellat, providing card-to-card, bill payment, and mobile top-up services. It is one of the closest direct competitors to 724 in Iran's regulated PSP market, with similar product scope and Shaparak-based revenue model.

Regional players

• Zarinpal (زرین‌پال): Zarinpal is one of Iran's largest online payment gateways, primarily focused on e-commerce checkout rather than consumer bill payment. It overlaps with 724 in the broader Iranian digital payments ecosystem but serves a different primary use case (merchant checkout vs. consumer utility aggregation).

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/724app

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 724.ir