The National Economic, Social, and Environmental Council (NESEC) hosted a symposium Tuesday in Algiers centered on expanding modern payment channels, aiming to speed up the shift toward electronic transactions and systematically diminish reliance on physical cash.
Hosted at the National School of Administration headquarters, this summit examined the evolution of digital transformation across the banking and financial system, alongside progress achieved in expanding tech infrastructure and widening e-payment services, particularly through point-of-sale terminals, mobile payments, and dedicated platforms.
Delegates also discussed state and financial measures designed to broaden financial inclusion, notably extending incentive frameworks where commercial banks, Algeria Post, and other financial entities absorb transaction fees for digital payments, terminal purchases, and direct payment apps.
The heavy reliance on cash remains a structural hurdle to improving transparency and financial inclusion, according to NESEC. Consequently, the event brought together industry analysts, institutional representatives, and key stakeholders to isolate factors encouraging the uptake of modern payment instruments and determine conditions needed for widespread adoption.
Opening the proceedings, NESEC President Mohamed Boukhari highlighted the strategic role of payment mechanisms in enhancing transaction flow, safety, and openness, while fostering better integration of the domestic economy into international value networks.
He cited recent strides made by Algeria regarding payment infrastructure, legal frameworks, mobile and digital payment solutions, and the expansion of services provided to consumers and commercial entities alike.
Deliberations spanned the technological, economic, behavioral, regulatory, and institutional facets of this transition. The ultimate goal is identifying practical avenues to support the evolving payment ecosystem and accelerate the deployment of modern financial solutions among citizens and business operators.