The Mozambique Fintech Association (Fintech.MZ) has expressed concern over recent restrictions imposed by some commercial banks on the use of bank cards for international payments on e-commerce platforms, a measure linked to the shortage of foreign currency in the country.
In a press release accessed by Diário Económico, the association states that these limitations are directly affecting technology companies and fintechs that rely on essential international digital services, such as cloud platforms, software subscriptions, cybersecurity tools and digital certificates used to ensure the security of online platforms.
The inability to make these payments, it warns, may compromise the security and continuity of digital services, exposing platforms to risks of fraud, cyberattacks and loss of user trust, and could also undermine the security of the country’s own digital and financial ecosystem.
Fintech.MZ also stresses that companies in this sector have contributed over the years to bringing hundreds of thousands — or even millions — of dollars into Mozambique through prizes, grants and digital services that are converted into the national currency.
“It is unacceptable that these companies are now unable to pay for essential digital services required for their operations, often involving small amounts but absolutely critical to ensuring the security and functioning of their platforms,” the association concluded.
Commercial banks operating in Mozambique recently acknowledged the possibility of restricting international online payments in a context marked by foreign currency shortages and increasing difficulties in accessing foreign exchange.
Source: Diário Económico
