Tehran Index: research terminal for Iran's digital economy

About 1.3 per cent of the value of what Iranians buy goes on a credit card, against roughly a quarter worldwide, so the country went straight to instalment credit and the instalment lender does the credit scoring itself. Snapp Pay, the largest of them, has now published its own operating and credit data for the twelve months to 22 September 2026: 175 million credit orders, 74,700 merchants, more than 98.5 per cent of instalments ultimately repaid and under 2 per cent unpaid at 90 days. Of 4,170 public facts across 386 public company records in the Tehran Index registry, five carry a repayment or default rate for an Iranian consumer lender, and three of the five arrived with this report.

TI Weekly, edition 010. Digipay sets its instalment credit ceiling at 100 million toman over up to six instalments, SnappPay says 95 of every 100 of its users had no bank credit score when they started and names 6, 9 and 12 instalment credit as its next step, Bitpin opens a desk for companies, Atena reports 10.8 times growth in monthly active users, a first public review ranks 31 platforms, and our analysis reads a week in which instalment credit reached for bigger purchases.

Six of the seven technology and telecom companies in the Tehran Index registry that trade on an Iranian exchange filed statements between 20 and 22 October 2026, and nobody appears to have read them together in English. Finance costs per 1 of operating profit run from nil at System Group, which has no borrowings at all, to 3.56 at Asan Pardakht Persian, whose operating margin for the half year was about a third of one per cent. Of the five companies with a comparable prior period, all five paid more than a year earlier, by 11 to 373 per cent. Before this, 8 of 4,091 public facts on the record carried a finance cost and all 8 were Tapsi.