Algerian startups specializing in e-payment solutions are expanding their digital services to support the country's transition to a digital economy. These startups aim to develop services that cater to the needs of businesses, traders, and consumers, thereby fostering confidence in online transactions. According to Murad Meshtah, General Manager of the fintech startup "Qaydini," e-payment solutions should not be viewed as a standalone function but rather as an integral component of businesses' digital pathways.
Meshtah emphasized the importance of ensuring financial security, highlighting that his company has followed the necessary testing, certification, and licensing procedures in collaboration with the Automated Cash and Interbank Relations Company "Satim," as well as with postal services and banking institutions. He also noted that Qaydini's solutions and data are hosted on cloud servers within Algeria. The company has accompanied over 500 e-traders in digitizing their payment operations, providing solutions for insurance agencies, distribution companies, hotels, travel agencies, and e-commerce platforms.
Nesim Choulak, founder and General Manager of "Pay Part," stressed that confidence remains a crucial factor in the development of e-payment solutions, particularly in e-commerce. He explained that his company was established in response to the hesitation of some consumers to make online payments before receiving their products, due to fears of fraud or non-compliance with specifications. Pay Part's payment mechanism aims to protect both parties, ensuring that the transaction value is only transferred to the trader after the customer receives and verifies the product.
Pay Part's solution allows customers a 24-hour window to file a complaint and initiate a dispute after receiving their product. Choulak stated that this mechanism aims to reassure consumers and encourage them to use e-payment solutions while enabling traders to expand their sales. He considers e-commerce to be a promising area for developing digital payments, alongside their increased use in certain public services.
Choulak identified accompanying traders and convincing them of the economic benefits of integrating e-payment solutions as significant challenges facing the sector. He noted that obtaining the "startup" label has helped his company gain recognition for its services among various stakeholders in the ecosystem. Pay Part aims to contribute to the gradual replacement of cash-on-delivery in e-commerce by enhancing the integration of its solutions with commercial platforms and delivery services.
The development of e-payment solutions in Algeria is supported by the country's regulatory framework and National Strategy for Digital Transition 2025-2030. Meshtah and Choulak agree that the key to growth lies in converting this trend into practical applications by providing simple solutions for businesses and citizens. They emphasize the need for integrating e-payment solutions into business management systems and customer relationship management.
The growth of e-payment solutions in Algeria is expected to continue, driven by increasing demand for digital services and the government's push for financial inclusion. Key players in the sector, such as Qaydini and Pay Part, are working to develop innovative solutions that cater to the needs of Algerian businesses and consumers.
Key points
- Algerian startups are developing e-payment solutions to enhance confidence in online transactions and promote financial inclusion.
- The growth of e-payment solutions in Algeria is supported by the country's regulatory framework and National Strategy for Digital Transition 2025-2030.
- Integrating e-payment solutions into business management systems and customer relationship management is crucial for the sector's growth.
