Angola to launch new mobile payment system in 2019

With the introduction of mobile payments, the payment system will be more diversified in Angola in 2019. With a mobile phone contact, the citizen can make purchases or payments and money transfers in formal and informal markets, even without having a bank account or link to a bank.

To this end, the National Bank of Angola (BNA) will submit to the approval, next year, a new legislation on payments system, particularly with mobile payments, to allow new forms of payments.

BNA started working with the World Bank in March this year to introduce legislation to allow mobile payments. The administrator Pedro de Castro e Silva confirmed the institution's commitment to the matter.

Angola has not implemented the mobile payments system any longer, compared to countries like Mozambique and Kenya, for focusing on the implementation of other electronic systems such as ATM and TPA. In this area, according to Pedro de Castro e Silva, "we are one of the best positioned countries in SADC."

"We have always been concerned about financial inclusion, just as it is with other countries, we think it is now with the use of mobile phones that we can promote financial inclusion," said the administrator of the BNA.

Referring to the stage in which Angola is in the area of ​​payment systems, Pedro Castro e Silva explained that BNA works with EMIS - an interbank service company, in electronic systems, that is, via ATM (multicaixa) with card feature.

The manager gave this information in the margins of the "VIII Meeting of Payment Systems of Central Banks of the CPLP, which is being carried out by the BNA in Luanda.

The central banks of the CPLP meet periodically to discuss various issues related to banking. This year they have addressed issues related to "Treasury" and "Statistics" and are now dealing with payment systems.

The aim of the event is to share experiences, particularly with regard to payment systems, the latest developments and how they can contribute to financial inclusion.

Representatives of the central banks of Angola, Cape Verde, Mozambique, Portugal, Sao Tome and Principe, East Timor and Monetary Authority of Macao participate in the meeting.

With inputs from Angola Press News Agency