Djezzy Moves Closer to Financial Services with PSP Authorization

Telecom operator Djezzy is poised to enter the financial services sector more directly. The Monetary and Banking Council of the Bank of Algeria has authorized "Djezzy Payment Services," a subsidiary of Optimum Telecom Algérie, to establish itself as a Payment Service Provider (PSP). This decision was made during the Council’s ordinary session and announced on September 23, 2026.

A Key Regulatory Milestone

This authorization represents a significant regulatory step, though it does not yet constitute final approval to operate. According to the Bank of Algeria, the authorization to establish the entity must be followed by a formal application for operating approval within a maximum period of twelve months from the notification of the decision.

This distinction is crucial for understanding the current status of the project: Djezzy now has the green light to set up its specialized structure, but its actual operations as a PSP remain conditional upon obtaining the final operating license mandated by regulations.

A New Role for Telecom Operators

This initiative aligns with the broader transformation of Algeria’s financial framework. The Monetary and Banking Law No. 23-09, enacted in June 2023, introduced Payment Service Providers as new key players in the national payment system. The primary objectives were to diversify payment methods and enhance financial inclusion.

The regulatory framework was further detailed in 2025:

• Regulation No. 25-02 defines the conditions for the establishment, licensing, and operation of PSPs. It specifically allows these entities to offer various electronic payment services.
• Instruction No. 06-2025 goes further by regulating the remote opening of payment accounts. It establishes three account levels, with balance limits ranging from 100,000 to 1 million Algerian dinars, depending on the required level of customer identification.