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POS devices
April 12, 2023
Based on the directions and strategy of this bank to increase the number of points of sale (POS) and reduce dependence on cash in financial transactions
The following was decided.. To view, click here https://cbi.iq/static/uploads/up/file-168180933493275.pdf
https://cbi.iq/news/view/2310
approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-168180933493275.pdf
The Banking Control Department
Department of Electronic Payment / Division of Instructions and Execution 2200
Number: |5 | NO: oN A/S
Cancel: polished / 8 >: Date
To / all authorized banks
Electronic payment service providers / collectors
M / devices 05 pm
Later, with our circular numbered 9/10/7 in 1/15077/8.” And based on the directions and strategy of this bank to increase the number of
Points of Sale (505) and reduce reliance on cash in financial transactions, the following is decided:
1. Reducing the merchant’s commission 8408 to be 1/ fixed instead of “7”, which was previously determined according to our numbered announcements
In the numbers 5.09/55 5929/0007 in 92/7061 1/115013/3911. And it is in favor of the collecting party (the party collection) for a period of two years starting from the date of 1/07/117, and the new commission will be reviewed after the expiry of the mentioned period
Or according to the need and requirements of the market and competition in the quality of the service provided and the support provided to the merchant.
1. Financial transactions (settlements) with merchants (points of sale devices) are carried out according to the following:
A- Opening bank accounts in the Iraqi dinar currency for merchants for the purpose of (receiving the sums of movements through POS devices '7505').
B- Issuing a prepaid card in the Iraqi dinar currency, with a ceiling of (51 million dinars), provided that the total number of its transactions does not exceed
Monthly (0 "million dinars) and the amounts available in it are due to sales of products, goods or services
"Exclusively" and is intended for the merchant or for individuals of a commercial nature, for example, but not limited to (kiosks, shops
; Street vendors » Owners of taxis working for their own account 0 Owners of professions and workshops, bakeries bakeries...etc).
Your creation of a support service dedicated to merchants who own the point of sale device (005) and with free phone numbers to view
Helping and supporting them directly and continuously 51/7 and analyzing the performance of merchants continuously and motivating them to use them on their own
Loyalty points or rewards, to name a few.
The need to adapt the conditions of your banks / companies, Lady, to the above, with appreciation.
Faisal Al-Haimus. =
Acting Deputy Governor
April 12, 2023
Based on the directions and strategy of this bank to increase the number of points of sale (POS) and reduce dependence on cash in financial transactions
The following was decided.. To view, click here https://cbi.iq/static/uploads/up/file-168180933493275.pdf
https://cbi.iq/news/view/2310
approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-168180933493275.pdf
The Banking Control Department
Department of Electronic Payment / Division of Instructions and Execution 2200
Number: |5 | NO: oN A/S
Cancel: polished / 8 >: Date
To / all authorized banks
Electronic payment service providers / collectors
M / devices 05 pm
Later, with our circular numbered 9/10/7 in 1/15077/8.” And based on the directions and strategy of this bank to increase the number of
Points of Sale (505) and reduce reliance on cash in financial transactions, the following is decided:
1. Reducing the merchant’s commission 8408 to be 1/ fixed instead of “7”, which was previously determined according to our numbered announcements
In the numbers 5.09/55 5929/0007 in 92/7061 1/115013/3911. And it is in favor of the collecting party (the party collection) for a period of two years starting from the date of 1/07/117, and the new commission will be reviewed after the expiry of the mentioned period
Or according to the need and requirements of the market and competition in the quality of the service provided and the support provided to the merchant.
1. Financial transactions (settlements) with merchants (points of sale devices) are carried out according to the following:
A- Opening bank accounts in the Iraqi dinar currency for merchants for the purpose of (receiving the sums of movements through POS devices '7505').
B- Issuing a prepaid card in the Iraqi dinar currency, with a ceiling of (51 million dinars), provided that the total number of its transactions does not exceed
Monthly (0 "million dinars) and the amounts available in it are due to sales of products, goods or services
"Exclusively" and is intended for the merchant or for individuals of a commercial nature, for example, but not limited to (kiosks, shops
; Street vendors » Owners of taxis working for their own account 0 Owners of professions and workshops, bakeries bakeries...etc).
Your creation of a support service dedicated to merchants who own the point of sale device (005) and with free phone numbers to view
Helping and supporting them directly and continuously 51/7 and analyzing the performance of merchants continuously and motivating them to use them on their own
Loyalty points or rewards, to name a few.
The need to adapt the conditions of your banks / companies, Lady, to the above, with appreciation.
Faisal Al-Haimus. =
Acting Deputy Governor
