Contactless mobile phone payments begin in Algeria
The National Bank of Algeria (BNA) on Thursday launched the first mobile payment application in Algeria, which relies on the smart barcode “QR Code”, paving the way for payment methods that will increase the facilities. Financial transactions and relatively contribute to financial inclusion.
This application called “Wimpay-BNA”, which is aimed at individuals, professionals and merchants, can be installed on smart phones and can be used even from abroad for transfers in dinars to another user of the application.
Thus, this app will allow BNA customers to make payment transactions via smart barcodes, transfers between users of this app, as well as manage budget and balance and consult the history of transactions executed. For businesses, the app provides the ability to accept payment transactions based on smart barcodes in service restoration, manage vendors and points of sale and consult their activities.
According to the Minister of Finance, Ayman Ben Abd al-Rahman, who participated in the launch event of this product at the Algiers International Conference Center, this process “is in line” with the strategy of the public authorities in terms of “developing electronic banking services. And diversifying distribution channels.”
It is also a solution that “will contribute to accelerating financial inclusion,” and it encourages, in the process of revitalizing other banks in Algeria, to multiply this type of innovative initiatives and products. In fact, modern payment methods will partially contribute to the banking business of funds that circulate outside the banking circle, especially those of families who will no longer be required to withdraw a lot of money from their accounts to make their purchases.
The launch of the CIB Islamic Card
The African National Bank is also planning other innovative products to launch “in the coming days an Islamic card for the Commercial International Bank” in addition to the first “CIB prepaid card” announced on the sidelines of this ceremony, CEO of the company Miloud Farahata. Speaking about the payment application, he reassured the CEO on this “innovative and safe” method, stressing that it is part of this public bank’s strategy to modernize and diversify its products and services.
The Libyan National Agency also plans to launch a new saving formula for individuals, “Epargne plus”, in addition to another product dedicated to financing individuals called “Ijara Akaria Tamlikia”, thus carrying its range of Islamic finance products … to ten.
This product will be available to bank customers as Ramadan approaches. Farhata also announced that the new Bahrain News Agency will establish seven new digital agencies, before the end of March, in Boumerdes, Bouira, Mostaganem, Staoueli, Dar Al-Bayda, Annaba, Kaifan (Tlemcen), to reach 20 spaces of this type. .
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