Tuesday, January 9, 2024

Iraq Sees a Surge in Electronic Fuel Payments, Paving the Way for Digital Adoption, 9 JAN

Iraq Sees a Surge in Electronic Fuel Payments, Paving the Way for Digital Adoption

In a decisive move towards digitization, Iraq’s Oil Products Distribution Company has declared a substantial increase in fuel supply rates via electronic payment cards. Hussein Talib, the firm’s General Manager, unveiled these figures, marking a significant milestone in the nation’s journey towards embracing digitized payment systems.

Triumph of the Trial Phase

The electronic payment solution was initially introduced in Baghdad in April of the previous year and has since expanded to other governorates. An impressive sales growth was reported, leaping from 35 million dinars in the debut month to a staggering 350 million dinars by November. This exponential rise in sales is a testament to the successful trial phase of the service.

Complete Transition on the Horizon

According to Talib, the first quarter of the current year is slated to see a complete shift to electronic payments across the country. The Oil Products Distribution Company has teamed up with licensed electronic payment companies authorized by the Central Bank of Iraq (CBI). This strategic coordination aims to facilitate the transition and ensure a smooth shift for all stakeholders involved.

Embracing the Benefits of Digital Payments

Talib has appealed to Iraqi citizens to adopt the digital payment method for fueling. His call to action emphasizes the need for users to familiarize themselves with the service and understand its benefits. As Iraq steps into a new era of digitized transactions, this move could be a significant catalyst for the nation’s digital economy.

https://bnnbreaking.com/world/iraq/iraq-sees-a-surge-in-electronic-fuel-payments-paving-the-way-for-digital-adoption/

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