Financia Tribune – A new generation of mobile payment network will be unveiled soon, said an official with the local payment settlement network regulator, Shaparak.

The new system does not require using debit cards and special codes, according to Arash Armoon.

The system was developed by Saman Electronic Payment company and will be unveiled under the trade name “Baloot”.

It will operate on Bluetooth technology on ordinary cellphones, IRNA reported.