The Iraqi Private Banks Association reported today, Friday, the number of electronic payment devices and payment cards during the year 2023, confirming that this topic is witnessing a significant transformation. The Executive Director of the Association, Ali Tariq, noted that "the electronic payment file is progressing continuously thanks to the support and directives of Prime Minister Muhammad Shiaa al-Sudani, and the government's insistence on achieving this goal has encouraged all institutions, both public and private, as well as financial institutions, to cooperate in providing electronic payment tools for citizens through both the public and private sectors."
He explained that "following the Cabinet's decision to generalize electronic payment last year, significant progress was achieved with a notable leap concerning the number of point-of-sale devices, both in the private and public sectors, which increased within just half a year from about 7,000 devices to 24,000 devices by the end of the same year 2023." He anticipated "an even greater increase in the number of electronic payment devices in 2024."
He pointed out that "approximately two and a half million cards were issued in 2023, including prepaid cards or cards linked to accounts to activate them in this field." He affirmed that "electronic payment in Iraq is experiencing a clear transformation, and it requires a little time for all institutions, according to the decisions issued by the Cabinet, to transition to automation in a way that ensures the presence of electronic payment outlets across all institutions and places."
