The Bank of Algeria has authorized Djezzy Payment Services to establish itself as a payment service provider, opening a regulatory path for the telecom operator’s payments subsidiary. Djezzy Payment Services is a subsidiary of Optimum Telecom Algérie.
The decision was taken by the central bank’s Monetary and Banking Council at a meeting chaired by Governor Mohand Bouraï, according to reports by Ennahar Online, Algérie Éco and Algérie Patriotique on Wednesday, September 23. TSA Algérie also reported the authorization, citing a Bank of Algeria statement.
The approval covers the company’s establishment as a payment service provider, or PSP. It is not the final accreditation needed to operate as one. Djezzy Payment Services must submit a separate accreditation application to the Bank of Algeria within 12 months of being notified of the establishment decision, according to the reported council statement. The reports give no date for that notification or for the launch of any payment service.
What the authorization covers
Payment service providers are a category of financial intermediary introduced under Algeria’s Monetary and Banking Law 23-09. The council said the framework is intended to diversify payment methods and strengthen financial inclusion.
The establishment authorization was granted under Regulation No. 25-02, which sets out the conditions for establishing, accrediting and operating PSPs. The distinction between the two approvals matters: Wednesday’s decision allows the subsidiary to proceed with its regulatory application, but the sources do not say it has received final accreditation.
TSA Algérie described the decision as the first such authorization for a mobile-payment subsidiary in Algeria. It also linked the PSP framework to efforts to digitize transactions and reduce the use of cash. The central bank statement as relayed by the other three publications focuses on the authorization, legal framework and next application step.
No product features, customer launch date or timetable for the Bank of Algeria’s decision on final accreditation were provided in the four reports.
Sami B. is the founder and editor of Algeria News Gate, an independent English-language platform covering Algeria’s political, economic, and business developments. Based in Europe, he reports on official announcements, economic trends, and international relations involving Algeria.