Djezzy receives authorization to launch digital payment services in Algeria

The Bank of Algeria has granted preliminary authorization to telecommunications operator Djezzy to establish a dedicated financial services subsidiary, Djezzy Payment Services. This decision, made by the Monetary and Banking Council, allows the subsidiary to operate as a non-bank Payment Service Provider (PSP) under the framework of Algeria’s 2023 Monetary and Banking Law.

Djezzy Payment Services, a subsidiary of Optimum Telecom Algérie, has been granted a 12-month window to meet remaining operational requirements and apply for a final license to begin commercial operations. As a PSP, the company will be authorized to manage and secure electronic financial flows, including online payments, transfers, and digital transactions.

This move aligns with broader African trends where mobile network operators leverage telecommunications infrastructure to expand digital financial services and increase financial inclusion, similar to models seen in Nigeria and Kenya.