Director General of the National Bank of Algeria: Recording important financial transfers through the “Wempai” application – Al-Hiwar Algeria

The Director General of the National Bank of Algeria, Mohamed Lamine Labou, revealed today, Thursday in Algiers, the registration of “important” financial transfers through the mobile electronic payment application “Wempai”.
In a press statement he made following the signing, at the headquarters of the Bank’s General Directorate, of a partnership agreement with the “Wad Kniss” company, aimed at developing electronic payment methods, Mr. Labo confirmed that the bank “records, through the “Wembai” electronic payment application, important financial transfers “.
He also pointed out that the application launched by this public bank in March 2021 allows customers to pay many bills such as bills for water, electricity and gas, Algeria Telecom, mobile phones and rental housing “justice”.
The general manager explained that the National Bank of Algeria has more than 2 million bank accounts, and that it has “data centers in Algeria that ensure the security of customer data and financial flows.”
In this context, Labo pointed out that the bank’s data centers “have the necessary space to receive more economic customers who wish to benefit from the bank’s services.”
For reference, financial transfers within the framework of electronic commerce at the level of the National Bank of Algeria last year amounted to approximately 960 thousand transactions (+88 percent compared to 2021) with a financial value of 3.52 billion DZD (+149 percent compared to 2021).
As for the partnership agreement with “Oued Kniss”, an Algerian company specialized in buying and selling advertisements via the Internet, Mr. Labou explained that it includes merging the company’s commercial operations at the bank level, pointing out that this partnership will allow the two parties to “further expand banking operations, electronic payment and product promotion The Algerian”.
For his part, the CEO of “Oued Kniss”, Mahdi Bouzid, confirmed that this agreement will enable the company, in the first phase, to enrich its digital services to direct customers, provided that in the second phase, the electronic stores located on the “Oued Kniss” website will be enabled to provide these services. services to customers, and “this will significantly double the number of electronic payment users in Algeria.”
Mr. Bouzid also pointed out that the digitization of the commercial process will make it “more secure for the user, as it is subject to the laws of digital commerce, and there will also be a follow-up to the payment, delivery and purchase process, and there will be a guarantee and the right to return the commodity.”