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November 18, 2024 | 2 months ago

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Algeria to authorize the use of Visa and Mastercard cards

The Minister of Finance has announced several new features for electronic payment in Algeria, particularly for international transactions.

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In an interview with El Khabar, Algeria's Finance Minister Laaziz Fayed announced significant progress in electronic payment systems, including the forthcoming acceptance of Visa and Mastercard cards for online transactions and the introduction of ATMs dedicated to international transactions.

The Minister also highlighted initiatives such as remote account opening and the introduction of electronic signatures. Key figures as of 31 August 2024 include

· 19 million payment cards in circulation, including 4 million CIB cards and 14.9 million cards issued by Algérie Poste.

· -3,896 ATMs operating throughout the country.

· -58,194 point-of-sale (POS) terminals, processing nearly 490,000 transactions for 4 billion dinars.

 

Mobile payments are also growing, with 27 billion dinars in transactions by August 2024, compared to 28 billion for 2023.

 

In the public services sector, 1,876 payment machines have been installed in the various administrations to speed up the collection of public revenues, with plans to extend this to all the organizations concerned.

November 19, 2024 | algeria-logo

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