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"A historic opportunity"... The Association of Banks identifies the most prominent challenges facing electronic payment
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Economy News - Baghdad
[rtl]The Executive Director of the Association of Private Banks, Ali Tariq, confirmed today, Monday, that there is a clear and tangible increase in the volume of daily payments through electronic payment cards, while identifying the most prominent challenges facing this matter.[/rtl]
[rtl]Tariq said, in an interview with the official newspaper and followed by “Al-Iqtisad News,” that “the current year will witness the launch of the Iraqi National Company for the Management of Payment Systems, which contributes to facilitating government payments via the Internet, and there will be a wider spread of payment systems throughout institutions and the provision of broader programs to stimulate the use of payment.” "electronic".[/rtl]
[rtl]He added, "The directions of the government and the Central Bank provide a historic opportunity to stimulate and use electronic payment, as these trends witness a clear focus and the issuance of many decisions that serve to accelerate its use in a way that ensures expansion of its adoption," pointing out that "Iraq is witnessing, for the first time, decisions that serve the electronic payment process." In light of the presence of infrastructure at the central bank, the banking system, and electronic payment companies.”[/rtl]
[rtl]He pointed out that "the outside world has witnessed a major revolution in the field of electronic payment and the move away from cash dealing completely, because of the safe paths it provides for funds and their transfer without any disruption. In Iraq, electronic payment will expand to the extent that the benefits of the largest segment of society will be felt."[/rtl]
[rtl]Tariq revealed that “the number of electronic payment points tripled during the year 2023, and it is hoped that it will double to greater and greater levels in the coming period.”[/rtl]
[rtl]He stated that "last year witnessed a transition in expanding the use of electronic payment, as the collection project for government and private institutions was approved in the middle of last year, which was an important detail of the government program and within the strategy of the Central Bank of Iraq."[/rtl]
[rtl]He stated that "electronic payment follows several paths, the most important of which is providing POS acceptance points in government institutions and private projects, noting that the number of cards today in Iraq exceeds 15 million cards of various types, and that issuing electronic payment cards is not a complicated matter."[/rtl]
[rtl]Regarding the transition to fully adopting electronic payment, Tariq pointed out that “the matter requires the presence of at least one electronic payment method in government and private institutions to ensure easy performance for the citizen,” pointing out that “all institutions now have electronic payment acceptance devices, but no The citizen is forced to adopt this mechanism.”[/rtl]
[rtl]He pointed out that "the most important challenges facing this matter are the need for broad education campaigns for all segments of society in order to achieve the widest spread after knowing the benefits obtained through electronic payment, which greatly reduces corruption and provides safe transactions."[/rtl]
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Added 01/15/2024 - 9:35 AM
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Economy News - Baghdad
[rtl]The Executive Director of the Association of Private Banks, Ali Tariq, confirmed today, Monday, that there is a clear and tangible increase in the volume of daily payments through electronic payment cards, while identifying the most prominent challenges facing this matter.[/rtl]
[rtl]Tariq said, in an interview with the official newspaper and followed by “Al-Iqtisad News,” that “the current year will witness the launch of the Iraqi National Company for the Management of Payment Systems, which contributes to facilitating government payments via the Internet, and there will be a wider spread of payment systems throughout institutions and the provision of broader programs to stimulate the use of payment.” "electronic".[/rtl]
[rtl]He added, "The directions of the government and the Central Bank provide a historic opportunity to stimulate and use electronic payment, as these trends witness a clear focus and the issuance of many decisions that serve to accelerate its use in a way that ensures expansion of its adoption," pointing out that "Iraq is witnessing, for the first time, decisions that serve the electronic payment process." In light of the presence of infrastructure at the central bank, the banking system, and electronic payment companies.”[/rtl]
[rtl]He pointed out that "the outside world has witnessed a major revolution in the field of electronic payment and the move away from cash dealing completely, because of the safe paths it provides for funds and their transfer without any disruption. In Iraq, electronic payment will expand to the extent that the benefits of the largest segment of society will be felt."[/rtl]
[rtl]Tariq revealed that “the number of electronic payment points tripled during the year 2023, and it is hoped that it will double to greater and greater levels in the coming period.”[/rtl]
[rtl]He stated that "last year witnessed a transition in expanding the use of electronic payment, as the collection project for government and private institutions was approved in the middle of last year, which was an important detail of the government program and within the strategy of the Central Bank of Iraq."[/rtl]
[rtl]He stated that "electronic payment follows several paths, the most important of which is providing POS acceptance points in government institutions and private projects, noting that the number of cards today in Iraq exceeds 15 million cards of various types, and that issuing electronic payment cards is not a complicated matter."[/rtl]
[rtl]Regarding the transition to fully adopting electronic payment, Tariq pointed out that “the matter requires the presence of at least one electronic payment method in government and private institutions to ensure easy performance for the citizen,” pointing out that “all institutions now have electronic payment acceptance devices, but no The citizen is forced to adopt this mechanism.”[/rtl]
[rtl]He pointed out that "the most important challenges facing this matter are the need for broad education campaigns for all segments of society in order to achieve the widest spread after knowing the benefits obtained through electronic payment, which greatly reduces corruption and provides safe transactions."[/rtl]
Views 94
Added 01/15/2024 - 9:35 AM
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