AML
Anti-Money Laundering
Anti-money-laundering framework. A set of rules requiring financial players to detect, report and block suspicious transactions (illicit fund origin, terrorism financing).
Example: Centeem automatically reports any transaction ≥ 1M DZD to the CTRF via the CTR mechanism.
BaridiMob
Algérie Poste's official mobile app for transfers from a CCP account. It also lets you pay professionals that accept BaridiMob.
Example: You can top up your Centeem account with a BaridiMob transfer from your Algérie Poste app.
Bank ring-fencing
The obligation for PSPs to hold 100% of client funds in a separate bank account at a partner bank. These funds legally do NOT belong to the PSP — they are protected in case of bankruptcy.
Example: The 10,000 DZD you load on Centeem is immediately transferred to a ring-fenced account at our Algerian partner bank.
CCP
Postal Current Account
A current account opened with Algérie Poste (Postal Cheque Centre). It is the equivalent of a bank account but managed by the post office. Very common in Algeria.
Example: To top up your Centeem account via CCP, you send a CCP cheque to our Centeem account number.
CIN
National Identity Card
Algerian biometric card with a secure chip (cryptographic chip). Enables strong electronic identity verification.
Example: Centeem scans your CIN in 10 seconds to validate your KYC with no manual entry.
CTR
Currency Transaction Report
A mandatory report sent to the anti-money-laundering authority (CTRF in Algeria) for any transaction ≥ 1M DZD. Automatic reporting, no judgement on the PSP's part.
Example: If you make a 1.5M DZD transfer, the Centeem system automatically issues a CTR — you may be contacted to justify the origin of the funds.
CTRF
Financial Intelligence Processing Unit
Algeria's anti-money-laundering authority attached to the Ministry of Finance. It collects CTRs and STRs from all the country's financial institutions and investigates suspicious cases.
EME
Electronic Money Institution
A category of PSP authorised to issue electronic money (your balance in a payment app = electronic money). Enables opening accounts, receiving and sending.
→ PSP vs BankEP
Payment Institution
A category of PSP authorised to provide payment-acceptance services (POS-as-a-Service, transfer, professional collection). Complementary to the EME.
Instruction 06-2025 BA
Instruction 06-2025 of the Bank of Algeria
A regulatory text published in 2025 by the Bank of Algeria that creates and governs the Payment Service Provider (PSP) status in Algeria. This text is what makes Centeem's legal existence possible.
→ Our legal frameworkKYC
Know Your Customer
Mandatory identity-verification process before opening a financial account. Combines ID document (CIN/passport) + liveness selfie + anti-fraud checks.
Example: Centeem KYC takes 5 minutes: CIN scan + selfie + liveness detection (anti-photo).
Liveness detection
Liveness detection
An algorithm that verifies the person in front of the camera is genuinely real (not a photo, not a video, not a mask). Essential for KYC security against fraud.
Example: The app asks you to blink or turn your head — that's liveness detection in action.
MICR
Magnetic Ink Character Recognition
Magnetic lines printed at the bottom of a cheque for automatic reading (account number, bank, cheque). Also optically readable by OCR.
Example: On a CCP cheque, the 20-digit RIP is printed in MICR at the bottom of the cheque.
NIN
National Identification Number
A unique 18-digit Algerian identifier assigned to every citizen. Printed on the CIN and the passport (MRZ zone).
OCR
Optical Character Recognition
Technology that recognises text in an image (photo, PDF). It automatically extracts data from a scanned document.
Example: When you photograph a CCP receipt to load it on Centeem, our OCR extracts amount, ref and date with no manual entry.
P2P
Peer-to-Peer
A direct payment between 2 people, with no merchant intermediary. On Centeem, P2P between Centeemers is instant and free.
Example: Sending 500 DZD to a friend to split a pizza = P2P.
PayLink
A unique web link generated by a professional containing an amount to pay. Sent via WhatsApp, SMS or email — the client clicks, opens Centeem and pays in 1 tap.
Example: A freelancer sends a 15,000 DZD PayLink to their client via WhatsApp after completing an assignment.
PSP
Payment Service Provider
A financial player authorised to provide payment services (collection, transfer, withdrawal, top-up) without being a bank. A category created in Algeria by Instruction 06-2025 BA.
→ PSP vs Bank (article)QR Code
Quick Response Code
A 2-dimensional barcode scannable by smartphone. On Centeem, QR Pay encodes an amount + a professional account → scan + confirm + paid in 5 seconds.
Example: The QR stuck on a merchant's counter: you scan it with Centeem, you see the amount to validate, you pay in 1 tap.
RIP
Postal Identity Statement
A 20-digit identification number for an Algerian CCP / BaridiMob account. Prefix '00799999' for BaridiMob, followed by the 12 CCP digits (10 account + 2 RIB key).
Example: A full BaridiMob RIP: 00799999 + 0041861145 + 27 = 00799999004186114527.
Sentry
A production error-monitoring service. It automatically captures bugs on the app, backend and admin side and alerts the technical team in real time.
STR
Suspicious Transaction Report
A monthly report sent to the CTRF by financial institutions for transactions deemed suspicious (with no automatic unit threshold like the CTR, but based on human judgement).
POS terminal
Electronic Payment Terminal
A hardware device at a merchant to accept bank-card payments (chip+PIN, contactless). Initial cost 20-30k DZD + 1,500 DZD monthly subscription at Algerian banks.
Example: Centeem turns a smartphone into a POS terminal — no hardware device, no subscription, with a sliding acceptance commission (1% at tier 1, capped at 1,000 DZD per transaction).
Wilaya
An Algerian administrative division (equivalent to a department). Algeria historically had 58, now 69 after decree 2024-04 creating 11 new Saharan wilayas.
Example: Centeem plans to cover all 69 wilayas through its partner-agent network.
A term missing?
This glossary grows with your questions. If you find an unfamiliar fintech word on Centeem.com, tell us — we'll add it.
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