Maputo, Mar. 2, 2026 (Lusa) - As of Monday, Mozambique has an Instant Payment System, established by the central bank to “make the transfer of funds fast, efficient, and immediate” through digital means, bringing together banks and digital wallets.
The measure is contained in notice 1/GB/2026 from the Bank of Mozambique, consulted by Lusa and which comes into force today, creating the Instant Payment System and approving its regulations, “adjusted to international best practices.”
The Instant Payment System “is an electronic payment mechanism for making payments, which allows funds to be made available immediately to the beneficiary,” and is “operated and managed” by the Interbank Society of Mozambique (SIMO).
"The system operates 24 hours a day, seven days a week, including weekends and holidays," the regulation states, defining that financial institutions may limit the maximum daily amounts for immediate transfers to 200,000 meticais ($2,670) for individuals and 500,000 meticais ($6,680) for legal entities.
There are 15 commercial banks and 12 microbanks operating in Mozambique, in addition to credit unions and savings and credit organisations, among others.
In addition to the managing entity, credit institutions, payment service providers, and “other entities authorised by the Bank of Mozambique” must join the Instant Payment System. However, participation by Electronic Money Institutions (EMIs) and digital wallets that operate via mobile phones is “mandatory.”
In November, Mozambique had more than 24.6 million digital mobile wallet accounts, compared to 6.6 million accounts in traditional banks, according to official data reported by Lusa in February.
According to the latest statistical report from the Bank of Mozambique, with data up to the end of November, accounts at Electronic Money Institutions rose from 19,870,700 in 2024 to 24,626,613. Bank accounts, on the other hand, grew only from 6,221,640 to 6,680,451 in the same period, according to the same data from the central bank.
Also during this period, traditional ATM terminals in the country fell from 1,413 to 1,399, and POS payment terminals from 35,470 to 33,191, services that are also provided by the current more than 400,000 digital mobile wallet agents working on the streets across the country.
Mozambique has three IMEs, namely M-Pesa, e-Mola, and M-Kesh, from the three mobile telecommunications operators, which provide financial services via mobile phone, including money transfers between customers or payment for services.
PVJ/ADB // ADB.
Lusa
