Consequently,
Exclusively dinars national territory:
The Algerian bank has defined the rules governing the activity and operation of payment service providers (PSP) in Algeria. Meanwhile, The latter must be “exclusively in Algerian dinars. Furthermore, within the national territory”, according to an instruction from the regulator published this Tuesday, August 19. However,
THE PSP Can be banks, applications like Paypal, or any operator authorized to provide electronic payment services. Meanwhile, Their role is crucial in the development. securing of electronic payment operations which is an effective tool for reducing the use of cash.
Especially since many online sales sites have developed in recent years in Algeria. but often payments are made in cash, for lack of clear regulation to supervise them. From now on, the whole regulatory arsenal is set up by the Bank of Algeria exclusively dinars national territory for the development of PSPs.
Electronic payment: the Bank of Algeria fixes strict rules – Exclusively dinars national territory
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The instruction published on Tuesday authorizes these operators to open payment accounts at the request of a payment services user. Three balance ceilings are fixed: 100,000 dinars, 500,000 dinars and 1,000,000 dinars. For each level, the Bank of Algeria sets strict conditions for the opening of a payment account.
To avoid the risks of fraud. the regulator specifies that before “entering into contact with any agent, the PSP is mainly ensuring its registration in the trade register, its honorability as well as its professional experience, the adequacy of its human, technical and financial resources, its ability to comply with the legislative and regulatory provisions in terms of payment of payment services. »»
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exclusively dinars national territory — Exclusively dinars national territory: The Algerian bank has defined the rules governing the activity and operation of payment service providers (PSP) in Algeria. The latter must be “exclusively in Algerian dinars and within the national territory”, according to an.
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