MicaPay
MicaPay Credit
With just a Tobank account, you are only minutes away from applying for a Tourism Bank credit card for shopping at Mica Mall.
With MicaPay, shop at Mica Mall today and pay in instalments.
MicaPay benefits for visitors to Kish
Shop in person up to a limit of 200 million tomans
Requirement: pay in person with MicaPay at card terminals in Mica Mall
Get MicaPay in person at Tourism Bank branches in Kish, or online through Tobank
Requirements: being in Kish and having a Tobank account
How do I get MicaPay?
- 1Install the latest version of Tobank.
- 2Open the Tobank app. If you have not been verified yet, complete identity verification first.
- 3Once you are verified, any account you hold at Tourism Bank is shown to you.
- 4If you have no account at Tourism Bank, you need to open one online. After opening it, top it up with 2 million rials.
- 5Then go to the Loans menu and choose the MicaCard facility.
- 6The terms of the facility are shown as soon as you open it.
- 7Next, you can see how MicaPay can be received and the amount available: in person at a Tourism Bank branch in Kish, or online through Tobank.
- 8Your credit score is then checked, and the MicaPay amount available to you is shown based on it.
- 9If you are approved, you move to the next step and request a promissory note to register the guarantee.
- 10You are then shown how to collect MicaPay, which is done in person at the Mica Mall Customer Club.
- 11Finally, your MicaPay card is issued and its details are shown to you.
Frequently asked questions
What is MicaPay and where can I use it?
MicaPay is a credit card offered jointly by Tourism Bank and Mica Mall for buying goods and services in instalments. The credit limit is up to 200 million tomans, repaid in 12 monthly instalments.
Who is eligible?
Verified Tobank users who hold at least one active deposit, have no bounced cheques or system restrictions, and do not currently have another active credit card in “Makna”.
Which credit ratings are accepted?
For online applications, ratings A, B and C are accepted.
What are the maximum and minimum amounts, and how are they set?
The credit limit is up to 2 billion rials (200 million tomans). The final amount depends on (1) the user’s accepted credit rating and (2) the usable balance in “Makna”. The minimum a user can choose is 10 million tomans.
What are the rate and repayment period?
The annual rate is 23%, and repayment runs for 12 months from the end of each statement’s “grace period”. The first instalment is due one month after the grace period ends.
How do the purchase periods, statements and grace period work?
From your first purchase, one-month “purchase” periods begin. At the end of each period a statement is issued, followed by a 7-day “grace period”. Collect or follow up your statement at the issuing branch, and if you do not receive a text message, follow up within 3 working days.
What guarantee is needed? Do I need a guarantor?
Issuing an “electronic promissory note” is a required part of the process and is recorded in the system. The contract also allows the bank to require a guarantor “at its discretion”.
What are the fees and charges?
A fee of 66,000 tomans plus the electronic promissory note fee.
Can I withdraw cash or transfer money with the card?
No. The credit can only be used to buy goods and services from merchants that accept the card, and can never be taken as cash.
What happens if I pay late?
The late-payment penalty equals 6% plus the contract’s interest rate (29% in total), and paying it does not stop the bank from pursuing its claims. After 2 months of non-payment the card is blocked and the customer is classed as a defaulter; being blocked three times leads to the card being cancelled.
What if my card is lost or stolen?
Report it to the nearest branch immediately. A replacement card can be issued for a fee, and the customer is responsible for any losses before the report.
How are privacy and credit scoring handled?
By signing, you allow the bank to exchange your data on an ongoing basis with the “Iran Credit Scoring Consulting Company” for credit scoring, and for the information to be processed by members of the credit scoring system.
How long is the card valid, and how is it renewed?
The card’s credit can be used for one year from the date of issue. Renewal requires a customer request, the bank’s approval, payment of the “annual subscription fee” and a new contract. The subscription fee is non-refundable once the card has been issued.
What if debt or charges remain at the end?
The customer undertakes to settle all remaining debt and related charges in one payment by the due date of the last instalment of the final statement.
Where can I collect or follow up in person?
At the “Mica Mall Customer Reception (Entrance D, Kish)”. Contact details are given in the delivery process document.
