For the first time in 2010, TOSAN Company, with the assistance of the Meli Bank of Iran, as custodian of the country‘s treasury accounts, launched this switch in the country‘s notary offices with the aim of “collecting government funds electronically and depositing them at specified ratios to accounts.” Defined “Treasury” in this solution, which is still used today as the treasure switch. After each user payment, the funds are electronically separated into specified shares and the funds are deposited directly and online into the Treasury account and other beneficiaries. The Treasurer of the Treasury Accounts Office launched this switch at the country‘s notarial offices with the aim of “collecting government funds electronically and depositing them at specified ratios to defined accounts”. The switch is called the treasury switch. After each user payment, the funds are electronically separated into specified shares and deposited directly into the Treasury account and other beneficiaries.
Treasury Switch Features:
Revenue transparency and share specified
Receive the contribution of each entity at the moment of payment
Increase responsiveness to people
Many projects and businesses generally have different stakeholders. Traditionally, the direct revenues of these businesses are aggregated into a joint account and after consideration and determination of each stakeholder, the amounts will split and paid. But in many cases this is not possible both legally and in business, and it is necessary to deposit funds directly into the beneficiary‘s account at the time of separation and the share of each direct beneficiary. The developed switching and disaggregated funds switch designed by TOSAN Company has the ability to deposit funds separately into the accounts declared in each payment by dividing each stakeholder.