Electronic payment tools

Electronic payment tools

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Tuesday, March 10, 2020
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Electronic payment tools
Suha Al-Kafai 
It is well known that the Prime Minister decided in 2018/5/29 to launch the project of settling salaries and electronic collection, for several purposes, the most important of which is to promote the Iraqi economy and achieve additional revenues for oil revenues, but how does this be achieved? Etc.
What does the localization of salaries have to do with this goal, and what are the mechanisms for achieving these goals, which are sought and looked forward to by the government, the private sector, the international community and every Iraqi? This is a strategic goal that must be under the attention of the Ministry of Planning in measuring the extent to which success has been achieved and adjusting its paths, if it deviates from its objectives.
It also extends to reducing widespread corruption, as a result of the reliance on automated devices to pay money from any citizen such as POS (electronic payment points), where it eliminates intermediaries, beneficiaries and bribed. 
It is another very important regulatory objective to preserve government, private sector and citizen funds, how (in practice) this is achieved?
These major objectives, i will try to illustrate with a series of articles by addressing the mechanisms and practical examples with a simplified but coherent explanation of each case, but it is accurate and coherent.
The provision of the international electronic electronic (salary card) for the employee is the first spark for the launch of all these goals, as the salary became another added value when he entered the electronic card. Debit card only as it will provide a bank account that will organize and change the life of the employee significantly and from many quarters and will work on: 
First: the organization of the citizens' banking, let's call it:
1. The first regulation:
 (Citizen's repayments) To organize an individual's daily financial life with his various payments, the card or bank account will contribute to reducing the time, effort and money he spends to sustain his daily life, as he can agree with the bank to pay fees, taxes and fines through an agreement with the bank, and to cut and pay the end of each month to the concerned parties from his bank account or through the use of telephone payment tools, and there is no need to go to anyone who demands him to pay, and to be exposed to the loss of time in transportation and effort, and in this case, there is no need to go to any party that demands payment, and is exposed to the loss of time in transport and exchange on the transfer and effort effort, and in this case, 
 The bank will contribute to the organization of the funds of government ministries on the one hand, as it will also gather in the bank for the benefit of the government ministries.
2. Purchase or shopping associated with transport ation of large goods. He can buy a refrigerator for example through the website of any Iraqi company that offers its services and deliver the refrigerator to the house, how much money will be provided to him, at a time when he did not make an effort and the fixed price commodity does not bear any manipulation of the employees sellers, and the business most of them will change to this picture and competition to sell and deliver the item to the houses, as a result will keep his salary from the shortcomings that drain his salary and force to pay it.
3. Purchase from shops, restaurants, markets, pharmacies and laboratory wages ... And others, through the pos payment points device will not pay higher than the price specified for it, and this device does not deduct a commission from the buyer, where it will buy at the specified prices, the Iraqi citizen will pay money without beneficiaries and intermediaries and bribes and without delay and exceed the queue by the payment devices POS, which It will be set up for the private sector and government ministries later when the electronic collection project is launched, as well as will get rid of shortages, forgery, rippers, theft and loss, and many other examples of life, and on the other hand, his various payments will lead to positive results for business owners and private sector companies on the other hand.
4 - The citizen will be able to apply for finances to buy housing or a car, and pay what he has to pay when deducting monthly.
5. Banks will provide various services to meet the staff members' needs, which contribute to the development of their lives, such as the installation of solar systems in their home in installments, which will save them money, reduce their payments to generator owners and give them a system of work for free energy sources.
7. Various privileges and discounts will be provided to him in order to benefit from his bank account, such as reduced travel contracts, card and insurance aggregation points and other services.
8. It will provide him with the possibility of entering new income through (a participation contract) in Islamic banks with any of his relatives, by entering into the project of providing his salary card as a guarantee to provide financing for a small project, and he can benefit from the entrepreneur who has to manage and succeed the project.

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