Algerians Traded DZD 265B of E-Payments Within a Month

Electronic payment in Algeria at the beginning of 2024 achieved new records for transactions completed via automated payment systems and online payment, which exceeded DZD 615 million in just one month through approximately 1.5 million transactions, while withdrawals via cash machines of banks and post offices made important progress reaching more than DZD 265 billion in January 2024.

Last weekend, the Minister of Finance, Laaziz Fayed, gave strict instructions in a meeting with representatives of banks and e-payment officials to expand the process further during 2024, which falls within the framework of the program of the President of the Republic, Abdelmadjid Tebboune, which stipulates the digitization of strategic sectors, led by the financial sector.

According to a report for the automated payment and cash collection, – which copy was checked out by Echorouk- the total amount of payment transactions through the e-payment system during January reached DZD 3.374 billion, with 422,782 transactions, which is a record number that exceeds the figures achieved during 2023, equalling DZD 3.151 billion last December.

As for online payment activity, it reached DZD 813,293 last January for phone and communications, DZD47,466 for transportation, DZD 63,462 for invoices, DZD 1,252 for administrative services and DZD 67,500 for the sale of goods, and DZD 6,365 for sports and entertainment, DZD 61,278 for total transactions amounting to 1.069 million transactions and a total amount exceeding DZD 3.007 billion, knowing that the Automated Cash Collection Services or “Satim” counted the presence of 475 merchants on the web involved in the electronic payment system “inter-banking”, since the launch of online payment, resulting about 38,378,545 transactions.

Regarding the cash withdrawal activity, the number of used machines until the end of last January reached 3,844, and 14,660 withdrawals were made with a total value of DZD 265 billion, while it is known that after the accession of “Algeria Post” to collect automated cash and achieve the exchange of transactions between the “interbank” card and the gold card, which has become effective since January 5, 2020. The statistics published from now on will include electronic payment activity via the interbank card CIB and the gold card.

The Minister of Finance, Laaziz Fayed, chaired, along with the Minister of Post and Telecommunications, Karim Bibi Triki, and the Governor of the Bank of Algeria, Salah Eddine Taleb, a consultative meeting at the Ministry of Finance last Thursday, to examine the file of developing the e-payment systems, as this meeting comes within a series of consultative discussions that are carried out by the Ministry of Finance to find solutions to common problems.