Iraq Economic News and Points to Ponder Thursday Evening 3-28-24
Tlm724 Administrator Bondlady’s Corner
Electronic Payment Is Sustainable Growth
Economical 03/28/2024 Muhammad Fadel Al-Khafaji Electronic payment is one of the modern innovations that enhances economic growth in the country, as it allows individuals and companies to conduct financial transactions with ease and safety, by supporting the growth and sustainability of the local economy while maintaining its stability and economic standing.
The electronic payment process contributes significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure of payment systems and their platforms through central control managed by the Central Bank of Iraq, banks, and payment service providers, as it is an important link in a major goal that seeks to achieve Reducing the phenomenon of cash economy.
Electronic payment reduces momentum within banks and facilitates the process of e-commerce and online shopping. Thanks to this technology, companies can reduce costs, increase productivity, and drive transactions through banking and financial channels, which enhances sustainable economic prosperity in the country.
Electronic payment contributes to improving flexibility and speed in payment processes, allowing individuals and companies to execute transactions immediately and without delay.
Read More