Iraqi Retail Payment System Infrastructure - IRPSI

Iraqi Retail Payment System Infrastructure - (IRPSI)

Within the framework of the pursuit of the Central Bank of Iraq for the modernization and development of financial and banking services in Iraq and in line with international developments in this field has been the establishment of infrastructure for the payment system retail in Iraq in 2016. It consists of:

• Iraqi Interoperable Mobile Payment System- (IIMPS)

A mutual operating system for mobile payment in Iraq, where funds are transferred between the electronic portfolios open in this system and the electronic portfolios open in the companies of electronic payment providers by mobile phone and the funds are transferred between the accounts and electronic accounts, and can also conduct withdrawals and deposit and purchase By open wallets in this system.

• Iraqi National Retail switch (INRS)

The National Retail Payment Center can electronically transfer funds between banks and electronic payment service providers through point of sale and ATMs where a credit card holder can conduct cash withdrawals and purchases from machines and pointers of other banks across the country without having to rely on branches The bank in which he deposited his money.