Financial Tribune: The procedure of issuing an e-check is the same as that of a paper check, wherein permission is granted to issue a checkbook, the check information is recorded in the Sayyad system and the check status is controlled
A new electronic check system was unveiled in Tehran on Saturday. The Deputy for Innovative Technologies at the Central Bank of Iran, Mehran Mahramian, told IRNA that the e-check system involved complexities given the litany of legal and technical features.
As per the new check law, the digital secure check system (aka Checkad) will operate with electronic checks.
An e-check is a new form of check subject to the same regulations for printed checks. E-checks are validated by digital signature. An electronic check, or e-check, is a form of payment via the internet or another data network crafted to perform like any conventional paper check. Because the check is in an electronic format it is processed faster reducing bureaucratic hassles. ... ... ...