Starting October 2024, five Algerian banks will offer their customers a new electronic payment service via mobile phone, using the QR code. This initiative aims to modernize banking transactions and simplify consumers’ lives.
Mobile payment is growing in Algeria
Assia Benchabla Queiroz, head of the division at GIE Monétique, announced this project in a statement to the Algerian Press Agency. According to her, this innovative service will allow customers to make payments by simply scanning a QR code. This is a solution that does not require the use of a bank card but relies solely on the interaction between the mobile phone and the merchant’s QR code.
This new technology aims to offer an instant, fast, and secure payment method. The customer will be able to pay for their purchases, settle their bills, and carry out various transactions in real time, without having to queue at points of sale or handle cash. This system, already in place in several countries around the world, promises to transform the consumption habits of Algerians and reduce waiting times in stores and counters.
8 banks in total will offer e-payment in Algeria before the end of 2024
Three institutions already offer mobile payment in Algeria: the National Bank of Algeria (BNA), Banque Al Salam, and Algérie Poste. With the arrival of five new banks in this sector, the total number of institutions offering this service will increase to eight, thus strengthening the country’s transition to a digital economy.
The GIE Monétique electronic payment group does not intend to stop there. The organization is already planning new projects for 2025 to continue developing and modernizing the electronic payment sector. This initiative is part of a broader strategy aimed at encouraging the use of new technologies and reducing the use of cash in Algeria.
With increasing support from banks and the establishment of suitable infrastructure, payment via mobile phone could become a norm in the coming years.
