Algeria External Bank To Launch Fuel, Shopping Payment Cards

Algerian External Bank will launch a new electronic payment service through fuel stations and large commercial areas to enable its customers to use the various types of fuel, and for shopping with a bank card, without relying on cash, and without reliance on cash flow.

This procedure falls within the framework of passing dormant funds outside official channels to banking and financial institutions.

The AEB is preparing to sign a partnership agreement with NAFTAL to enable all its customers, who exceed one million, to benefit from bank accounts with the customer, to use fuel, diesel and SIRGAZ through the electronic payment card for the benefit of all customers,and TBO payment platform will also be installed at the level of 1800 stations across the national territory.

According to a source from the external bank, the process will be generalized over the coming months, to include all fuel stations and major commercial centers, where cash is largely traded, as this will indirectly and far away from pressure from those who are afraid of banks and banking transactions to take a step closer, to facilitate their transactions and make them more flexible and smooth, as they will be able with one-click to access to electronic services, instead of taking longer time and standing in lines that do not end at the level of gas stations.

The bank account holders, who have over one million electronic payment cards, will benefit from the signing of the agreement with the National Petroleum Marketing and Distribution Corporation (NAFTAL), following the completion of the electronic payment platform at 1800 national stations soon.

It is well known that the customers of the Algerian foreign bank were benefiting years ago from a similar procedure that can use fuel through the stations with a bank card but not electronic.

The new agreement will contribute to the return of this easy service that will eliminate the bureaucracy at the level of fuel stations, and that falls in the framework of the government’s attempt to make it a success by forcing banks to engage in this new endeavor, which has become more demanding than ever before.

The Algerian External Bank confirms that the process will enable the exploitation of sleeping e-cards in the pockets of a large number of beneficiaries for more than a year ago without a single withdrawal or deposit of funds, and underestimate the feasibility of this card, which the government spent large sums of money to manufacture and publish it in the media customers and even banks to secure them from penetrations and forgery.