Finance directs its banks to facilitate the adoption of a free POC device in all institutions
Finance directs its banks to facilitate the adoption of a free POC device in all institutions
5-4-2023
Information / Baghdad…
On Thursday, the Ministry of Finance directed its banks to facilitate the approval of electronic payment devices for the public and private sectors for free.
The Ministry stated in a statement received by Al-Maaloumah that “The Minister of Finance, Taif Sami Muhammad, directed all the Ministry’s banks to provide all the necessary facilities to approve POS electronic sales devices in state institutions and the private sector for free, at zero percent interest, for a period of 6 months, in addition to providing technical and logistical support.” And the various software supporting the project, as well as training the cadres working in this field.
And she added, “The facilitation package comes within the framework of the Ministry of Finance’s vision, represented by the Minister of Finance, in acquiring POS electronic payment devices instead of cash and generalizing the experience to include various economic sectors at the level of all Iraq, which is hoped to start starting from the date of June 1, 2023.”
She pointed out that “electronic points of sale are devices dedicated to accepting electronic payment transactions, which allow merchants, shop owners and projects to accept payments from their customers (customers) who hold electronic payment tools, in return for the goods or services provided by the merchant, as an alternative to cash payment.”
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