Parliamentary Oil Reveals The Reason For The Government’s Move Towards Electronic Payment At Gas Stations, 14 FEB

 Parliamentary Oil Reveals The Reason For The Government’s Move Towards Electronic Payment At Gas Stations

Time: 02/12/2024 16:25:10 Read: 4,888 times  {Economic: Al-Furat News} The Parliamentary Oil Committee revealed, today, Monday, the government’s approach to electronic payment at gas stations.

Committee member, Zainab Al-Moussawi, said {to Al-Furat News}:

“We, the coordinating framework, strongly support the government’s economic measures, including moving toward cash payment with electronic cards, since

electronic payments are inherently safer than paper ones, whether on the health and safety side of the transmission of viruses, or on the side of not counterfeiting.” Sukuk.” She explained,

"Bank cards provide double security from any fraud attempt, and the various controls and successive verification processes contribute to making the payment process more secure."

 Al-Moussawi added, "In addition,  individuals can track all their transactions online, which contributes to increasing financial awareness and improving the management of expenses and the personal budget."  She pointed out that"other features of electronic payment

enhance the financial security of individuals, as carrying cash exposes people to theft and loss, while

electronic payment provides an additional layer of protection and encryption for financial transactions."

On January 30, 2024, the Petroleum Products Distribution Company, in cooperation with Rafidain Bank, launched the service of issuing electronic payment cards immediately at gas stations.

The Petroleum Products Directorate of the Ministry of Oil announced the continuation of cash payment at fuel filling stations until next April.

In its regular session, the Council of Ministers approved the following regarding commissions for electronic payment operations:

1. (The recipient bears electronic payment commissions from the private and public sectors, and the payer does not bear any electronic payment commissions), and

the government compensates a percentage (50%) of electronic payment commissions. paid by the holder (the merchant, the employer, and all private sector entities),

provided that it is used to pay the holder’s obligations to the state exclusively through electronic payment, such as renewing licenses, paying taxes, customs, fees, municipal fees, electricity fees, and everything owed to the state, and it cannot be recovered in cash in any case. Conditions.

2. Determine all electronic payment commissions (at a percentage determined by the Central Bank of Iraq), with a maximum commission limit that stops at a commission amount (the value of which is determined by the Central Bank of Iraq for both the public and private sectors) and what exceeds that without commissions, and a minimum that is exempt from commissions as well (Exempting small transactions in the public and private sectors from commissions up to a ceiling determined by the Central Bank of Iraq.

3. The contracts signed based on what was stated in the decisions of the Council of Ministers related to electronic payment, especially the decisions of the Council of Ministers (23044 and 23620 of 2023) etween state institutions and electronic payment companies, will continue to be effective until December 31, 2024, and  the contracting institution may submit a reasoned request to the Central Bank of Iraq in If she wishes not to extend the approval process.

4. The decision will be re-evaluated in light of the results of the application before the end of this year 2024.

5. This decision will be implemented starting March 1, 2024.

https://alforatnews.iq/news/النفط-النيابية-تكشف-سبب-التوجه-الحكومي-للدفع-الالكتروني-في-محطات-الوقود