An economist shows the pros and cons of switching to electronic financial payment

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Today, Saturday, Nasser Al-Kanani, an economic expert, discussed the benefits and cons of the anticipated move to dealing with electronic payment methods via bank cards, emphasizing that taking this step will open another door to corruption at petrol stations.

According to Al-Kanani in a Maalouma “The shift to electronic payment at gas stations will contribute to increasing the sale of oil derivatives outside government and private stations due to the absence of a culture of electronic payment and the ignorance of most citizens of this new mechanism,” as well as “how the government deals with taxis that need To enter the stations on a daily basis.”

He went on to say, “There are positives from the decision, which is considered a qualitative leap in the field of banking and keeping pace with the global development of electronic payment methods,” and he added that “the step is positive if it is implemented correctly by the concerned authorities and citizens.”

He warned that, “Taking this step will open another door to corruption at fuel stations and will exacerbate smuggling operations,” adding that “it is necessary to exclude the taxi category because the number is very large compared to the procedures for depositing money and filling from stations and other operations.”

The Council of Ministers for the Economy had confirmed the electronic payment service’s activation, as the decision stipulated that the system enjoys a high level of protection and security, saves time and effort, and contributes to stimulating economic movement by facilitating the procedures for granting a license to collect bank cards and exempting all electronic payment (POS) transactions from… Taxes, amid a positive step and not without negative consequences.

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