Banco de Moçambique and Euronet announced today the entry into operation of the “new solution” for the processing of electronic interbank payments in the country, changes in the system that aim to improve the service.
“The new processing solution of the Sociedade Interbancária de Moçambique (SIMO), whose entry into production today we witness, responds to the requirements of the different payment platforms”, especially Simo’s president, Benedita Guimino.
According to the official, the new solution presents technological advances that guarantee greater convenience and security in the performance of electronic transactions, in addition to the unification of all electronic payment platforms in the country.
“It is with great satisfaction that we announce that a new journey is beginning towards the unification of all electronic payment platforms in Mozambique, including the implementation of interoperability between electronic money institutions,” she said.
Simo said that the next step will be the migration of all credit institutions and companies to the new solution, calling for the collaboration of entities in the process.
The Bank of Mozambique signed the contract with Euronet in 2018, after a five-day blackout of the network of the Interbank Bank of Mozambique, held mainly by the central bank, between 16 and 21 November of the same year.
The Portuguese company Bizfirst cut the service, claiming non-payment, and the ATMs and bank cards only returned to work after commercial banks negotiated the payment with the service provider.
At the time, the governor of Banco de Moçambique, Rogério Zandamela, criticized Bizfirst’s option and said that Simo would not work with the company again.
Euronet presents itself as a company with 5,600 employees, present in 55 countries, having processed transactions valued at US $ 74 billion in 2015.
