The Société d'automatisation des transactions interbancaires et de monétique (SATIM) has obtained accreditation from Visa and Mastercard, allowing it to personalize international cards in Algeria. This development is expected to significantly reduce the time it takes to issue cards, with some banks promising to deliver cards within 48 hours, compared to the current two to three weeks. The accreditation was announced by Toufik Chikaoui, director of international network projects at SATIM, on October 27.
The SATIM's center for card personalization has been officially recognized by Visa and Mastercard, and the company is also certified to process card data in Algeria. Previously, Algerian banks had to rely on foreign providers, mainly in Tunisia. According to Chikaoui, processing card data locally is a matter of "sovereignty" for the country. Two public banks, Crédit populaire d'Algérie (CPA) and Banque de développement local (BDL), have supported the project, with CPA partnering with Visa and BDL with Mastercard.
The project not only enables faster card issuance but also allows for the acceptance of foreign cards in Algeria. Visitors will be able to pay merchants and withdraw dinars from ATMs using their international cards. While the 48-hour card issuance timeline is not yet a reality, SATIM has begun pilot phases and conducted successful tests with several banks, including CPA, BEA, BNA, and BADR.
The current card issuance process varies among banks, with CPA taking around two weeks and BEA taking five days. However, BEA's code secret is still processed in Tunisia, taking an additional ten to fifteen days. With SATIM's accreditation, CPA aims to issue cards within 48 hours, while BEA plans to reduce its processing time. The banks have also introduced dedicated cards for the tourist allocation, with minimal access conditions.
The tourist allocation, which stands at €750 for adults and €300 for minors, is no longer provided in cash and is instead transferred to a foreign currency account linked to an international card. The Banque d'Algérie has set rules for the allocation, which can be requested from the seventh day before departure and up to the day before. Banks advise clients to apply for the allocation and card in advance to avoid delays.
The demand for international cards has surged since the introduction of the tourist allocation, with CPA selling out of its stock of 35,000 cards within three weeks. To meet the demand, banks have placed a joint order for around one million cards with a local supplier, which is expected to reduce costs and improve delivery times. CPA plans to launch a program of 150,000 cards with SATIM, with the potential to increase production to 600,000 cards per year.
The accreditation of SATIM by Visa and Mastercard marks the conclusion of a long-standing project that began in 2017. The development is expected to bring significant benefits to Algerian banks and their clients, including reduced costs and faster card issuance. With the new accreditation, Algerian banks are poised to improve their services and better meet the growing demand for international cards.
Key points
- SATIM's accreditation by Visa and Mastercard enables 48-hour card issuance in Algeria.
- The accreditation is expected to reduce costs and improve delivery times for Algerian banks and their clients.
- The development marks a significant step towards increasing the use of international cards in Algeria and improving the tourist experience.
