“Sudanhorizon” Publishes the Unified Electronic Payment Platform Paper Presented at the “Shumos Media” Forum on Thursday Evening, March 6, in Port Sudan

Unified Electronic Payment Platform: A Step Towards Digital Transformation and Financial Inclusion

By Dr. Asjad Yahya Al-Kazim
PhD in Business Administration
1. The Impact of Sudan’s War on Electronic Payments
The conflict in Sudan has caused significant complications in electronic payment systems due to power outages and a shortage of physical currency.
Since the start of the war, 70% of bank branches have ceased operations, and 121 branches have been subjected to looting and sabotage.
Banking infrastructure, including the “Siraj” system (the central bank’s core banking system) and EBS, has been damaged.
Electronic payment services have almost completely halted, with only a limited number of services continuing through some banks that have backup converters.
2. Overview of Electronic Banking Services in Sudan
Electronic banking services are part of the digital transformation but have suffered setbacks due to the destruction of infrastructure.
Goal: Rebuilding technical infrastructure and promoting financial inclusion through modern technologies.
Collaboration: Cooperation between the government, financial institutions, and technology companies is essential for achieving sustainable digital transformation.
3. Key Challenges Facing Banking Services in Sudan
Infrastructure and Connectivity: Weak technical, regulatory, and financial infrastructure of banks.
Security Concerns and Trust: Ongoing security challenges affect customer trust, with an increase in hacking and financial fraud.
Customer Support and Service Delivery: Poor customer service responsiveness for users of electronic banking services.
Economic Challenges: Inflation and currency instability impact financial operations.
Regulatory Constraints and Lack of Financial Literacy: Absence of a regulatory framework supporting financial innovation and low awareness of the benefits of digital banking services.
4. Proposed Solutions: Creating a Unified Payment Platform
Facilitating easy, instant, and secure money transfers between banks and digital wallets via mobile phones.
Improving the efficiency of financial transactions and reducing the need for cash.
Increasing financial inclusion and promoting the digital economy.
5. A Practical Model for a Unified Payment Platform in Sudan (SDD – Sadd)
Transferring funds between bank accounts and digital wallets.
Paying bills for various services such as electricity and water.
Integration with other sectors like public transport and education.
Payment via QR Code for easy digital payments in stores.
6. Expected Outcomes
Improving customer experience and reducing the need to carry cash.
Increasing cash flow for small and medium-sized enterprises.
Enhancing government operational efficiency and transparency.
Strengthening the national economy and reducing reliance on foreign currencies.
7. Proposed Framework for Project Implementation
Establishing a unified national platform managed by the Central Bank.
Supporting USSD technologies to ensure coverage in areas with poor internet connectivity.
Updating financial laws to ensure the integration of banks and digital wallets.
Involving global and local technology companies in platform development.
8. Conclusion
Unifying the electronic payment platform is a strategic step towards developing the banking sector in Sudan.
It addresses infrastructure challenges and enhances cybersecurity.
It promotes financial inclusion and reduces reliance on cash to achieve sustainable economic growth.

Shortlink: https://sudanhorizon.com/?p=4560