Financial Tribune - Shaparak, Iran�s payment settlement network, processed 2.22 billion transactions worth 2,522 trillion rials ($20 billion) in the last calendar month to Nov. 22.

Compared to the month before, the transactions registered 1.58% and 0.49% fall in volume and value, respectively, according to the monthly report published on Shaparak website.

The transactional value rose 13.96% compared to the same period last year when 1.79 billion transactions worth 2,213.67 trillion rials ($17.70 billion) were processed. In volume terms it showed 24% growth on a year-on-year basis.

The report attributes annual hike in the value of transactions mainly to rising inflation, increase in the number of receiving instruments and debit cards plus the growing tendency among the public to use electronic payment tools instead of cash.