Guidelines for Mobile Payment Systems

This guideline promotes a sound national financial structure, including payment systems, clearing systems and financial services. Entry and exit from the payment system by the mobile financial payment service providers shall require prior written approval from the Reserve Bank of Malawi (RBM).

This guideline applies to non-bank based mobile payments models, where customers have a direct contractual relationship with a prudentially licensed and supervised financial institution.

This regulation emphasizes that mobile payment service providers shall provide the RBM with a detailed payment management value chain that covers the entire process from agent recruitment and monitoring, to finality of transaction settlement, regulating all such processes.

Document Details

Document Type: 
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Year of Document: 
2011
Document Authors: 
Reserve Bank of Malawi
Language (This Document): 
English

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