New Payment Pathway Unveiled for Emergencies / How Does Iran's Wallet Work Without Internet?

A payment platform based on USSD codes has been launched, enabling micro-transactions and fund transfers during internet outages and network disruptions.

Imagine you went to the bakery on the street to buy bread on a busy day, but the card reader doesn't work, the phone's internet is down, and the bank application doesn't open. You do not have cash with you. In such a situation, even a simple daily purchase becomes a challenge; The challenge that shows the importance of alternative ways of payment, "Iran Wallet" is one of the tools that makes some financial operations possible through command code and is used in such situations. This service does not require mobile internet or application installation to be accessed through command code. However, its use is still dependent on the establishment of the mobile phone network and transaction processing infrastructure. The importance of this tool is seen more when the internet disruption, cyber attacks or the unavailability of part of the banking services disrupt people's access to conventional payment methods.

A code to access wallet services

Iran Wallet is available through the command code *98# in order to facilitate access to payment services. The user dials this code with a SIM card registered in his name and follows the activation steps. According to the information provided, after registration, users can charge their wallet with a bank card, see the balance, send money to others by entering the recipient's mobile number, and if necessary, return the balance to the bank account through the Shaba number. The result of each transaction is also notified to the user by SMS.

Why is Iran's wallet important in war situations?

The payment network consists of several components: banks, transaction processing systems, communication networks, payment service providers and store terminals, all play a role in making a payment, and a disruption in each can affect other sectors. The experience of hacking four national banks, trade, export and export development in June showed that a cyber attack on a bank's systems can disrupt access to part of its services. Interruption or restriction of the Internet sometimes makes it difficult or impossible to use banking and payment applications. In a war situation, the probability of simultaneous disruption in several parts of the communication and financial infrastructure is higher and it doubles the necessity of predicting alternative routes. In such a situation, tools that rely on a different route to perform some operations reduce users' dependence on a payment method. The importance of Iran's wallet is from this point of view: access to some services through the USSD command code, the implementation of which does not require mobile internet. In simple words, if the internet is not available but the mobile phone network and supporting systems of this service are active, the user can use the command code path to perform supported operations instead of the banking application. This feature is especially important for small payments and daily needs; Because in crisis conditions, disruption in paying small amounts can make it difficult to buy bread, food and other essential items. Therefore, the main advantage of "Iran Wallet" is to provide a different path for some financial operations in situations where a cyber attack or crisis has limited the provision of financial services on the Internet.