New Payment Provider Djezzy Approved by Bank of Algeria

The Monetary and Banking Council of the Bank of Algeria has officially authorized "Djezzy Payment Services," a subsidiary of Optimum Telecom Algérie (Djezzy), to constitute itself as a Payment Service Provider (PSP). This decision, announced on September 23, 2026, represents a significant development in the modernization of Algeria's financial landscape.

This authorization is part of a broader initiative under Law No. 23-09, the monetary and banking law, which seeks to diversify payment methods and reinforce financial inclusion across Algeria. Payment Service Providers are newly introduced financial intermediaries designed to streamline electronic transactions. Unlike traditional banks, a PSP focuses exclusively on secure online payments, mobile money transfers, and electronic wallets, acting as a secure bridge between consumers, merchants, and the banking network.

The authorization of Djezzy Payment Services is the initial phase in a structured process. The new entity now has a maximum of 12 months from the date of notification to submit its final accreditation request to the Bank of Algeria. The entry of a major telecommunications operator like Djezzy into the mobile and electronic payment market is anticipated to play a pivotal role in the ongoing digitization of the Algerian economy, ultimately benefiting consumers by enhancing access to modern financial services.