Algeria: The GIE unveils payment card boost in 2016

Sep 30, 2015

Algeria currently has 2,980 electronic payment terminals.

Algeria will generalise the use of electronic payment cards in 2016, said Mouatassem Boudiaf, chief executive of the electronic banking division at the Economic Interest Group (GIE).

He said that the GIE is conducting a modernisation of the interbank electronic banking platform in collaboration with the Society of Automation of Interbank Transactions and Electronic Payments (SATIM) to make it evolve "in terms of features and volume".

Algeria currently has 2,980 electronic payment terminals, with only one hundred of these generating transactions, explained Mr Boudiaf, quoted by Financial Afrik.

Moreover, the national park includes 1.4 million payment cards, with only 25 per cent being active with withdrawals and payments.

The government hopes to change attitudes in Algeria, where the use of payment cards is still not at the level of Europe or the USA. "In their daily transactions, people only trust cash. It is difficult to convince citizens of the need to change their method of payment," said a bank branch manager quoted by newspaper El Watan. "The citizen often fears - although this is baseless - that his bank account will be siphoned if he makes a purchase with a credit card," she laments.ADNFCR-2976-ID-801801828-ADNFCR