Algeria slowly moving towards a cashless society

May 25, 2012

Electronic payments are struggling to develop in Algeria, hampered by a low access to banking services, retailers' reluctance to get equipped with Point of Sale Terminals and a lack of bankcard knowledge, experts believe.

Electronic payments are struggling to develop in Algeria, hampered by a low access to banking services, retailers' reluctance to get equipped with Point of Sale Terminals and a lack of bankcard knowledge, experts believe.

The Algerian government has therefore come up with new policies to support the move towards a cashless society with the introduction of a strategy called e-Algérie 2013, La Tribune newspaper reports.

According to a banking source quoted by La Tribune, the e-banking section of this policy is almost completed. Payments and other transactions between banking institutions are now made through electronic tools.

The second phase's objective is to widen the use of electronic payment cards to the general public in Algeria, says the source, adding that around 4000 Point of Sales Terminals have been installed in retail stores.

But many experts believe that additional reforms are needed to boost the development of electronic payments, including changes in fiscal and customs regulations, payment systems and international exchanges.

They called for the relaxing of existing texts and the codification of online sales during a seminar organised by the Centre for research on scientific and technical information on May 17th in Alger, Algérie 360 reports.ADNFCR-2976-ID-801371391-ADNFCR