Rafidain Bank identifies three advantages of electronic payment systems, 12 SEPT

 Economy News – Follow-up

Today, Tuesday, Rafidain Bank identified three advantages of electronic payment systems, while indicating the nature of the services provided by these systems.

The Director General of Rafidain Bank, Ali Karim, said in an interview with the Iraqi News Agency, which was followed by “Al-Eqtisad News”, that “digital payment systems are distinguished by many points and advantages. In addition to keeping pace with the rapid development taking place in the world, they also provide many services that were not previously available in regular systems.”

He added that “the three most prominent advantages of electronic payment systems are (flexibility and speed), which provide users with greater opportunities to achieve their desires, such as paying or collecting bills and dues, selling, buying and shopping.”

He continued: “Digital payment systems also feature ‘remote management’, as they allow government institutions, companies and owners of digital commercial projects to work in several sectors, from different places, and at the same time, all these operations and tasks are organised through different means of connection, and thus the work is completed in one go.”

He pointed out that “the third advantage of electronic payment systems is (rapid spread), through the high efficiency of connection and networking, which allows tasks to be completed in one go, and the completion of buying and selling operations at high speed, and thus companies and projects that rely on the electronic payment system in Iraq can reach.”