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May 15, 2025 | 9 months ago
Installation of payment service providers (PSP): Banque d'Algérie sets licensing conditions
The Banque d'Algérie (BA) is now paving the way for the creation and installation, for the first time in Algeria, of PSPs (payment service providers), as part of the overall process aimed at modernizing the national banking and financial system and extending the use of modern means of payment.
As part of implementing the new Monetary and Banking Law of June 2023, the Bank of Algeria (BA) has published new regulations governing the conditions for authorising, setting up, licensing and operating payment service providers (PSPs). These companies, which act as intermediaries in the electronic payment services, are now officially recognised and subject to a structured regulatory framework.
PSPs are authorised to provide various payment services (withdrawals, payments, transfers, direct debits, card payments, issuing payment instruments, transmission of funds). They must establish their head office and host their payment platform in Algeria, ensure the interoperability of their systems with other platforms, and guarantee high availability, security, and continuity of service.
To be approved, a PSP must compile a file including its articles of association, a technical and economic study, a description of the platform's functionalities, and an assessment report from an independent firm on the security and performance of its systems. A minimum share capital of 160 million dinars is required. PSPs ensure secure, traceable, confidential and reliable user data management, clearly publish their pricing conditions, and set up an internal control and risk management system.
Opening up the banking sector to these new players should boost electronic payments and encourage the emergence of new intermediation services in e-commerce.
May 15, 2025 | 
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