TT: 5258

"The Taiwan-based payment company Castles, specializing in payment tools, has started a semi knocked-down production line in Iran’s Arvand Free Trade Zone, in cooperation with Bank Pasargad’s subsidiary, FANAP. FANAP is launching the POS terminal production line in Khorramshahr Free trade Zone, Khuzestan Province. Jason Chiang, sales manager of Castles in the Middles East, said the high demand in Iranian market has prompted the company to expand its presence in the country. "The Iranian market offers many opportunities, especially now that sanctions are lifted and foreigners have more opportunities to take part in the market," he said. "Our Iranian partner, FANAP, is producing the POS terminal and we provide them with technical and technological assistance." (Financial Tribune, "FANAP, Taiwan POS Maker in JV," 9/6/2016).