Algeria is introducing DZ Mob Pay, a mobile electronic payment system designed to make everyday financial transactions easier for citizens and retailers.
Announced on Monday, December 30, 2024, by the Groupement d’Intérêt Économique de la Monétique (GIE Monétique), the service will be available in January 2025 and implemented by banks and Algérie Poste.
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A practical solution for daily transactions
DZ Mob Pay will allow users to make payments using QR codes and transfer money directly between individuals. GIE Monétique stated that subscriptions to the service will be simple and secure, with transactions for both users and merchants being completely free. The service aims to address challenges in payment accessibility and reduce the reliance on cash in Algeria.
This initiative is part of Algeria’s efforts to promote electronic payments and improve financial inclusion across the country. By offering digital alternatives for transactions, DZ Mob Pay is expected to support citizens and businesses with an easier and more efficient payment system.
Supporting Algeria’s digital finance goals
GIE Monétique, established in 2014, plays a key role in managing Algeria’s electronic payment systems. Comprising 19 members, including banks and Algérie Poste, the organization focuses on advancing modern payment solutions.
DZ Mob Pay is one of several initiatives introduced recently to expand Algeria’s electronic payment infrastructure. It comes on the heels of substantial growth in mobile payments across the country. According to GIE Monétique, mobile payment transactions surged by 71 percent in the first quarter of 2024, reaching 12.5 million, compared to 7.6 million during the same period in 2023.
These transactions accounted for over 9.3 billion DZD in value, while mobile money transfers within financial institutions grew by 140 percent in number and 187 percent in value. Interoperability, which now allows transactions between different banks, has further broadened the scope of mobile payments in Algeria.
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Expanding digital services in Algeria
The launch of DZ Mob Pay marks another step in Algeria’s move toward a cashless economy. GIE Monétique has also announced plans for additional projects in 2025 to further enhance electronic payments. These developments align with the country’s broader strategy to digitize public services, including platforms for housing applications and other government services.
By making financial services more accessible and convenient, Algeria aims to improve daily life for its citizens while supporting businesses with modern payment options. The introduction of DZ Mob Pay is expected to encourage more people to adopt electronic payment methods and contribute to the country’s economic development.