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1reIn addition to merchants and economic operators, it is public institutions and administrations that are called upon to accelerate the deployment of electronic payment tools and thus play a role in the modernization of payment systems.
The slogan of the Ministry of Finance is clear, especially since it is a question of the generalization of e-payment means at the level of administrations in the finance sector and other sectors.
This measure is described as a “strong signal” regarding the desire to generalize electronic payment, in the opinion of consultant and geo-economics expert Abderrahmane Hadef. Strengthening performance and modernizing financial management, particularly through the development of electronic payment methods, was one of the focuses of the coordination meeting chaired last Thursday by the Minister of Finance with the participation of general and central directors of the ministry.
A detailed presentation of the program for the development of electronic payment means was thus presented, and the initiative to generalize the means of e-payment at the level of administrations in the financial sector and other sectors, as well as mobile payment for set of banks was launched. Which suggests that a new stage in the generalization of e-payment is initiated. This is also what experts confirm, like Abderrahmane Hadef, according to whom the Ministry of Finance, through this initiative which is a first, is giving a strong signal and a clear message as to the desire to accelerate the process of generalization of electronic payment, through the involvement of public institutions and administrations.
“We have always talked about merchants and economic players who must get involved in this process, but the fact that we are asking public administrations to accelerate the deployment of electronic payment tools is a strong signal. If the administration and the public sector get started, automatically, everyone will follow,” indicated this expert in his declaration to Young Independentaffirming that e-payment is becoming an essential tool in modernization but also in improving transactions.
According to him, this measure from the Ministry of Finance “denotes that on the political level, we are today in an irreversible process in terms of modernization of payment services and the generalization of electronic payment tools”, specifying that the meeting also was an opportunity to evaluate what has been done in this area. “We are accelerating our digital transformation at the sectoral level and the finance sector is playing the locomotive in terms of the generalization of electronic payment solutions,” said Mr. Hadef.
The generalization of e-payment means at the level of administrations in the financial sector and other sectors will undoubtedly give a definite blow to this process, according to Mr. Hadef, who says that the payment industry is in full reorganization, particularly in light of the new monetary and banking law. The Ministry of Finance is therefore sending a clear message, according to the geo-economics expert, who also pointed out the direction given relating to the need to move towards innovative solutions, such as mobile payment.
“This is one of the most efficient and effective ways to improve financial inclusion,” he said, noting that in 2022, there were $960 billion in mobile and mobile transactions. that 60% of these transactions were carried out on the African continent. This indicates, according to him, the enthusiasm but also all the possibilities that this method of payment can offer for countries which wish to improve financial inclusion, in particular banking inclusion.
In this sense, he pointed out Algeria’s delay in terms of the rate of the banked population, estimated at 50%, compared to the world average which is around 75%. “We have a long way to go, and it is through this solution that we can reach the global average,” said the consultant, who underlined the importance of modernizing payment methods. “These are instruments that will contribute to improving the country’s economic performance,” he assured, affirming that mobile payment is one of the levers of commerce in general.
Algeria will therefore only benefit from the advantages offered by digital technologies in terms of payment and banking, in addition to improving the governance of public finance, establishing transitivity and transparency in transactions.