Libya has a liquidity crisis and this drove many banks, entrepreneurs and communication companies to innovate to provide solutions. The most popular and widely used option is the mobile money option, as Libya's biggest private bank Commerce and Development Bank which was the first mover it introduced its Edfaly (Pay me) mobile payment service, followed by Almadar mobile company introduced its SADAD Mobile Payment service which has not spread across the country as of 2018.
There are not many software companies in the country, the main one is dependent on the government for its projects as it’s relatively costly to develop an app, as the online payment market is not functional and there is no e-money legal framework to regulate the online payments. But this still did not slow down software company Sadeem Tech from launching their online shopping platform Spiza. The most used apps are still the free classified ads Open Sooq and Essale, which is a live feed for the black market exchange rates.