Munar Al-Obaidi, an economic researcher, confirmed that electronic payments in Iraq have increased during July and broke the barrier of 2 trillion Iraqi dinars.
“Electronic payments increased during the month of July 2024 to break the barrier of 2 trillion Iraqi dinars, based on an increase in government electronic payments, which reached 912 billion Iraqi dinars during the past month of July, with an increase of 17% compared to June 2024, in addition to the increase in electronic payments for points of sale, ATM withdrawals and cash withdrawals by 26% to reach 1 trillion dinars,” Al-Obaidi said in a statement.
Al-Obaidi added, “Electronic payments for bill payment services like electricity, passports, and other services increased by 40 percent to reach 31 billion Iraqi dinars, while electronic payment for fuel stations increased by 4 percent to reach 44 billion Iraqi dinars.”
He further pointed out that “total electronic payment during the year 2024 reached 10.4 trillion Iraqi dinars and is expected to exceed over 20 trillion Iraqi dinars.
“These statistics include electronic payments that pass through the national switchboard and do not include electronic payments that take place in points of sale outside Iraq,” al-Obaidi clarified.
He explained that “the big increase which happened in a year by the government’s electronic payment is clear and the increase in the electronic payment for the services of the bill payments but the electronic payment operations through the stations of fuel still below the required level compared to the volume of fuel derivatives that are sold.”
He said that “the government electronic payments accounted for 45% of all the payments; the accumulated percentage of electronic payments for points of sale, ATM withdrawals, and cash withdrawal was 51%, the percentage of electronic payment for service bills was 1.57%, and that for fuel stations reached 2.19%. “
