National Vision Drives Digital Payment Infrastructure Growth

Officials and experts convened at a national conference to underscore the critical importance of advancing Algeria's electronic payment system and cultivating a modern financial culture. Participants affirmed Algeria's established infrastructure as a robust foundation for developing modern payment methods, which are recognized as vital for strengthening national economic dynamism. The President of the National Economic, Social, and Environmental Council (CNESE), Mohamed Boukhari, highlighted the strategic function of these payment solutions in ensuring fluid, secure, and transparent transactions, thereby enhancing the national economy's integration into global value chains.

Boukhari noted that, guided by the profound vision of the President of the Republic, Algeria has achieved substantial progress in recent years in developing its payment infrastructure. This includes modernizing the regulatory framework, broadening the use of electronic and mobile payment methods, and diversifying services for both citizens and economic operators. Further supporting this progress, Professor and Researcher Ibrahim Ghendouz from Mouloud Mammeri University of Tizi Ouzou pointed to Algeria’s comprehensive legal framework, advanced infrastructure, and sophisticated banking localization system, evidenced by 557 bank accounts per 1000 inhabitants and 29 million postal current accounts.

Despite the advanced infrastructure, the conference discussions emphasized the ongoing need to promote wider practical adoption, addressing prevailing traditional payment habits. Majid Massaoudan, General Manager of SATIM company, confirmed that Algeria's infrastructure is suitable, good, and meets standards, yet requires enhanced utilization to maximize its potential. The collective goal involves fostering a new monetary culture to gradually reduce reliance on cash, thereby bolstering the formal economy and strengthening financial transparency and inclusion across the nation.