The Bank of Mozambique (BM) is making efforts to implement a National Payments System (NPS) which, among other things, should create conditions to accelerate the digitalization of the entire payment system, according to the institution's administrator, Gertrudes Tovela.

According to her, this is a path that the WB has started to follow in the last few years.

In Mozambique, it is up to the BM, as the central bank, to implement oversight standards applicable to financial market infrastructures, to regulate the NPS, and to grant authorization for the establishment and operation of the various payment operators, as well as their products and services.

Gertrudes Tovela said that the covid-19 pandemic has brought to light the need for the development of modern systems that emphasize the automation and digitalization of financial transactions.

"With covid-19, there was a need to give greater primacy to electronic payments, to reduce contact between payers and receivers of payments," he noted.