The Bank of Mozambique (BdM) announced today that all commercial banks and electronic money institutions in Mozambique are officially integrated into the single national electronic payments network. The successful conclusion of this process was confirmed in a statement released by the BdM on Tuesday.
Since 19 November, commercial banks and e-money institutions have been operating exclusively on the new SIMORede platform, provided by Euronet. This integration represents a significant milestone in the modernisation of the National Payment System and stands out as a crucial advance in the promotion and facilitation of electronic payments in Mozambique.
“With this achievement, we have reached one of the main objectives of the modernisation of the National Payment System, which will certainly make an undeniable contribution to boosting electronic payments in Mozambique,” said the statement issued by BdM.
SIMORede’s new platform offers a wide range of products and services, especially interoperability between electronic money institutions, banks and other financial service providers. This interoperability is crucial to promoting greater efficiency and convenience in financial transactions throughout the country.
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