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Bhairav Trivedi told Reuters on Sunday that Network International is negotiating processing debit, credit and other payment transactions with leading Iranian banks.
He added the banks are among the country's largest public and private lenders.
"We believe there are a lot of opportunities in Iran to expand our market, but we are not leaping into anything blindly," Trivedi said.
"If we can cross our Ts and dot our Is from a regulatory standpoint, then I would like to say yes, we can initiate this year."
There has been growing international interest in trade and banking ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran’s nuclear program and implemented it on January 16.
The comprehensive nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran after coming into force.
Tasnim News Agency - economy