Iraq Approaches 62,000 POS Devices as Electronic Payments Continue to Expand

According to specialized sector reports and circulating industry data, the number of active POS devices in Iraq has surpassed 60,000 units, with estimates indicating that the market is now approaching 62,000 devices during the current period — a significant increase compared to previous years.

This expansion comes alongside ongoing efforts by the Central Bank of Iraq and the Iraqi government to encourage electronic payments and strengthen the country’s digital financial infrastructure.

In addition, incentive-driven policies — including the cancellation of merchant fees on certain electronic payment services — have encouraged thousands of retailers and businesses to join the digital payment ecosystem in recent months. At the same time, competition between payment companies and digital wallet providers has intensified as firms race to expand their presence across the Iraqi market.

The largest concentration of POS devices remains in Baghdad, followed by Basra and Erbil, while other provinces are also witnessing gradual expansion as shopping centers, fuel stations, and institutions increasingly adopt cashless payment solutions.

Observers believe the Iraqi market has entered a new phase of digital transformation, particularly with the growth in active payment cards and the wider adoption of digital wallets and financial applications.

Despite this progress, challenges such as internet stability, infrastructure quality, and everyday user experience continue to represent some of the biggest obstacles slowing faster fintech expansion across Iraq