Typology of the Transition Path to Payment Technology (PayTech) in Iran

Payment technology or paytech is one of the largest sub-sectors of fintech and focuses on the movement of money within the country. the transition from traditional services to innovative services has many advantages, but in terms of establishing international relations, protecting users, and also the environment in which the startup business operates, the challenges exist. The purpose of this study is to know the typology of paytech transition path Based on what has happened so far in the field of payment. The research paradigm is interpretive and the research method is qualitative and based on narrative-research and the analytical framework of multilevel perspective is used. data has been collected from Central Bank Regulations and reports published in fintech media from the beginning of 1389 to the end of 1399. During this period, 829 reports were reviewed, of which 130 were related to the discussion, and by studying them, the actors and their relationship with each other and their behavior in the face of changes in regulations, laws, and the provision of new services were examined and the coexistence or competitiveness of the relationship, as well as the level of development of innivation and its competitiveness with the regime were analyzed. results show that the transition path is technological substitution and due to the gradual changes, it follows the pattern of Fit and Conform.