Payment methods in Algeria- statistics & facts
From bustling souks to the contemporary digital financial landscape, Algeria is making clear efforts to transform its cash-driven society. The North African country offers its population various payment alternatives and options, but this question remains: Are consumers ready to transition from their strong attachment to cash to trust alternative digital payments?
In order to facilitate transactions, Algeria has also made progress in e-banking, with an increased number of registered accounts, and introduced Wimpay-BNA, a contactless mobile payment app based on a QR code.
Moreover, mobile money accounts gained popularity in 2024, recording approximately 12.5 million payment operations in the first quarter. This new addition to the financial services in Algeria and the overall African continent allows anyone with a mobile phone to transfer, store, and request money, without necessarily owning a bank account.
How would Algerians like to pay?
In 2023, a large amount of cash was withdrawn from ATMs in Algeria, indicating how much Algerian consumers trust physical currency. However, consumers now have a few other options for paying bills, online shopping, and purchasing goods. Debit cards are among these alternatives, with CIB and Edahabia being the most popular choices. Both cards allow users to conduct bill payments and online transactions. Additionally, a small portion of the population owns credit cards, which are preferred for rewards and credit-building, compared to everyday spending.In order to facilitate transactions, Algeria has also made progress in e-banking, with an increased number of registered accounts, and introduced Wimpay-BNA, a contactless mobile payment app based on a QR code.
Moreover, mobile money accounts gained popularity in 2024, recording approximately 12.5 million payment operations in the first quarter. This new addition to the financial services in Algeria and the overall African continent allows anyone with a mobile phone to transfer, store, and request money, without necessarily owning a bank account.
