Central Bank approves the launch of the electronic payment service across Zain

Central Bank approves the launch of the electronic payment service across Zain


Author: AB, ASJ, HH
Editor: AB, HH 2015/12/31 15:51



Long-Presse / Baghdad

Approved the Central Bank of Iraq, Thursday, on the launch of the electronic payment service via the Zain mobile phone in a move that is the first of its kind in Iraq, and with Zain pointed out that the service will enable the joint of conversion and handed the money inside Iraq and pay the bills and fees, he confirmed that the service will be subject to to the control of the Iraqi Central Bank.

Zain said in a statement received (range Press) copy of it, "Zain Iraq leader in the field of mobile communications and data transfer Announces Service (Zain Cash) on its network and cooperation with Iraq, a portfolio company (Iraq Wallet) specialized in the provision of electronic financial services after officially obtaining a license from the Central Bank of Iraq to provide electronic payment services. "

The statement added, "The service (Zain Cash) registered in the joint service will enable the conversion of the received funds inside Iraq and across Zain Iraq network," returned the service, "the first of its kind in Iraq."

The statement stressed that "this service is important and sophisticated would do to use the mobile phone as Stholh to purse a stretcher," pointing out that "service will allow subscribers to conduct financial transactions such as sending and receiving money within Iraq, or refilling of telephone lines and pay the bills in the Zain network in any time and in a manner easy and quick. "

The statement pointed out, that "service that was designed by a specialized team and partners local and international is part of the technological development that accompany the post-third generation in Iraq, to ​​meet the common need and give it the freedom and opportunity to facilitate daily transactions wherever they are," noting that "the service provided a large amount of easy money and maintain a safe manner similar to other markets. "

The statement continued, "The company has created and trained many of the teams in customer service and agents and outlets center and many selling points (Zain Cash's new service), which will reach more than 21,000 points, according to plan in order to meet its customers with the service requirements," stressing that "Date the service will be free by going to the nearest authorized service center or call (* 210 #) and follow the instructions or send your (recording) a message to the number 2100 ".

The statement, that "(Zain Cash Service) will enable subscribers to pay bills Kovatir electricity, pay traffic fines easily fees", noting that "those authorities in the final stages of the application of these systems and services will open up new horizons."

The statement stressed that "the new service will also enable companies to pay and salary transfers safely and effectively in Iraq," pointing out that "the service was declared to companies contracting with Zain Iraq and entities, and will be subject to regulations and international protocols safe".

The statement pointed out that "the service will be subject to the control of the Iraqi Central Bank, which defined operational and administrative organizational those services frameworks With the goal of the Iraqi Central Bank in the year for these laws and regulations in line with international standards, and strive to promote confidence in the economy through the creation of a safe environment healthy and competitive system available for all and this was confirmed by the Central Bank of Iraq on several occasions. "

The statement stressed that "(Zain Cash) will be subject to all procedures for safe financial transactions in all countries of the world, and give full safety of users and the ease with full remittance and received anywhere in Iraq and moments numbered, under the supervision of a specialized team and the coach."

And mobile payment is a way of various means of payment by money transfer by mobile phone or mobile wallet in general, and operate under the financial regulation and performance from or through a mobile device rather than pay cash.

The service enables the use of a mobile phone to pay for a wide range of services, digital or hard goods. Being the adoption of mobile payment in all over the world in different ways since 2008, it has been the deployment of payment solutions by mobile phone in developing countries as a means to expand financial services to the community.

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And mobile payment is a way of various means of payment by money transfer by mobile phone or mobile wallet in general, and operate under the financial regulation and performance from or through a mobile device rather than pay cash.

This certainly lessens the need for physical cash locally...