Algeria: Mobile Payment Interoperability Project to Go Live This Year

By : Samira Njoya

Date : vendredi, 12 avril 2024 15:24

Financial inclusion has become a key priority for governments and financial regulators across Africa, with a particular emphasis on central banks. Initiatives are being implemented to improve access to financial services for a greater number of people.

Algeria's mobile payment interoperability project is nearing completion and should be activated this year, according to Assia Benchabla Queiroz, administrator of the payment systems group GIE Monetique. She recently spoke to Algérie Presse Service, Algeria’s state-owned news agency, about the project’s goal to ease transactions between users of various mobile money operators and enhance access to financial services.

We are well advanced in the deployment of mobile payment (m-payment). The GIE monétique has specified its operating scheme, and each bank is expected to acquire its solution,” Queiroz stated.

To achieve that goal, mobile payment stakeholders will need to collaborate closely to establish common standards and protocols. They will also need to connect to a switch crucial for the smooth management of mobile payment flow across a platform. This initiative will allow users to conduct transactions even between customers of different banks, thereby promoting the widespread adoption of mobile payments for purchases and account-to-account transfers.

The project is part of the government's action plan to modernize the banking and financial system and increase its attractiveness and efficiency to enhance its contribution to economic recovery. Its implementation is expected to enable seamless communication among various payment service providers, paving the way for transparent transactions across different platforms, irrespective of the service provider used.

This progress will ease the use of mobile payment, particularly for making purchases using QR codes and conducting account-to-account transfers.

Samira Njoya


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