Trade Minister Tayeb Zitouni: “Electronic payment services in Algeria have witnessed a remarkable development” – Al-Hiwar Al-Jazairia

The Minister of Trade and Export Promotion, Tayeb Zitouni, stated, at the International Conference Center, in a meeting on “Digitization of the financial services of Algeria Post and its role in improving financial inclusion,” that electronic payment services in Algeria have witnessed a remarkable development recently compared to previous years.

The minister emphasized that “these statistics remain very weak compared to the volume of monetary transactions recorded by the Algerian market, given the reluctance of many citizens as well as merchants to adopt these mechanisms, knowing that the supplementary finance law for the year 2022 explicitly stipulates in its article 26, which imposes mandatory Establishing electronic payment methods that allow consumers to pay their purchases (goods and services) using electronic payment cards, as the deadlines for compliance with the provisions of this article have been extended, until December 31, 2023.

Accordingly, Minister Zitouni stressed the need to promote electronic payment in Algeria, not only with the aim of facilitating commercial transactions between the consumer and the merchant, but also because it is an effective mechanism in combating corruption and money laundering, and reducing the circulation of funds outside the official sector, and transactions in counterfeit cash.

By the way, Zaytouni revealed that he had instructed all foreign departments of the Ministry of Commerce and Export Promotion, to work on the need to sensitize merchants to the need to expedite the adoption of electronic payment mechanisms, and to inform the customer that every electronic financial transaction avoids him paying one percent (1%) (stamp rights), calculated on The total value of the invoice.