Expert: Weak culture prevents the spread of electronic payment services

[yota691]

Expert: Weak culture prevents the spread of electronic payment services

Saturday 05 February 2022 133

 

 Baghdad: Mustafa Al-Hashemi 

Many citizens, especially those who have traveled abroad, wonder why POS (the device that reads financial cards) is not widespread in the country, although it has come a long way and has the necessary infrastructure for the successful spread of this service, especially after the entry of modern technology into Iraq. And that it is still new to providing electronic services to citizens by opening the door for shopping and conducting commercial transactions.

 

Earlier, the Central Bank announced its quest to reduce the use of cash (cash) in the country, due to the challenges of geography and security issues, which make the transfer of cash within the country difficult and risky.

 However, the matter was limited to distributing the salaries of employees and retirees only, and the Central Bank did not implement its policy on the ground in limiting cash circulation. 

(cache).

 

individual financial losses

Hussain Al-Khaqani, an economic expert, said that “the spread of sales points will greatly reduce individual financial losses, especially as many citizens who have visited or traveled abroad bemoan the lack of points of sale and credit card readers in markets, fuel filling stations, markets and all merchants.

 and sellers.” 

Al-Khaqani called for the provision of electronic payment card readers, at all official authorities and shops to collect their debts, such as departments that collect fees, traffic and taxes, for example, malls, large and small commercial markets, taxi drivers, stores selling vegetables and fruits, ovens and restaurants, in order to avoid the citizen dealing with damaged and counterfeit currencies and payment. More than required and greatly reduces the use of paper currency.”

 

Weak banking culture

For his part, banking expert Samir Al-Nusairi explained the most important reasons for the non-proliferation of points of sale in Iraq, attributing the reason to the weak banking culture among citizens using this modern technical means to move from paying with cash to paying with this.

 style".

Al-Nusairi added in a statement to “Al-Sabah” that “other reasons for the weakness of the spread of dealing in this way are also represented by the lack of knowledge and motivation for the owners of malls or shops. 

and service.

 Also, the number of credit cards is not commensurate with the number of available points of sale, which number up to 4000 devices, compared to 12 million cards 

credit.”

 

Digital Transformation Application

The banking expert indicated that “there are no instructions and legislation obligating the citizen and the service provider to implement digital transformation, use electronic payment methods in shops and gas stations, and pay electricity, water and phone bills, so that cash is not accepted. 

Rather, it is exclusively through cards, in addition to the lack of infrastructure integration. 

Through networking and the use of advanced software, in addition to facilitating the use of services 

Internet".

 

governmental support

Al-Nusairi stressed the need for government support for the expansion of the use of electronic cash cards, in coordination with the relevant ministries and the bank 

central.

 As well as automating business and facilitating routine procedures,” he called for “providing incentives for business owners to provide services, provide banking facilities, and reduce tax rates and commissions imposed on the use of pos.