Tadawul Tech, one of Libya’s largest electronic payment providers, today successfully interfaced its acceptance network with the state-owned National Switch, President Naaman Elbouri confirmed to Libya Herald today.

Tadawul will now be able to accept all payment cards issued by all other Libyan providers and, in return, payment cards issued on the Tadawul card management switch will be accepted on the state-owned Moamalat Nomu network.

Tadawul says its acceptance network comprises more than 14,000 points of sale (POS) (spread over 47 towns and villages) and aims to expand its coverage sixfold by the end of 2025.

Tadawul said this is great news for Libya’s e-payment echo system and has been long overdue. The interface will provide wider coverage, especially in rural areas, and reduce reliance on paper-based cash payments.

Thanks to the new CBL
Tadawul thanked the new management of the Central Bank of Libya (CBL) for ensuring that all licensed payment service providers (PSPs) will be interfaced with the National Switch and thanked both Moamalat and Tadawul Tech teams for the successful implementation and integration for to include all parts. of Libya.

A ten-year campaign to catch up with the rest of the world
It will be noted that this successful relationship between leading private and state sector e-payment operators came “after a ten-year effort” of trying to convince the outgoing CBL management to allow e-payment customers to use both switch networks interchangeably. “This will make Libyan customers start operating like the rest of the world,” added a senior e-payment source.

The move will also help spread the use of electronic payments and partially alleviate Libya’s cash shortage crisis at its banks.

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