Algeria Trade: “Online payment is up and coming in 50 days”

The Government isconsidering new measures to block the way to shady businessmen of all types involved in the sprawling informal trade and capital flight in Algeria.

After the implementation of the recent measure to pay by cheque all transactions worth over a million dinars starting from July 1 2015, the Government plans as early as the beginning of next September to introduce (TPE) e-payment.

Banks have 50 days to complete procedures and to implement these measures as early as the the social comeback. 

Mr Boualem Djebbar, President of the Abef, revealed that the Government is ready to launch the online payment officially at the beginning of the month of September, stressing that it would take all necessary measures and provide all safety and security standards to ward off any excesses or lapses. 

He also pointed out that the law on e-commerce is ready and will be discussed at the Government level. 

In addition, he explained that the relevant mechanisms are ready to proceed diligently so as to allow the adoption of this electronic commerce procedure officially starting from next September without encountering any hitches, noting that coordination would be carried out with the electronic payment Company “Satam”. 

The process will be automated so as to absorb all cash money outside banks, he added.