Angola to have mobile payment system in 2019

The National Bank of Angola (BNA) intends to introduce payments through mobile telephony, and plans to put forward new legislation in 2019 to that effect, said BNA director Pedro de Castro e Silva in Luanda on Wednesday.

The director, quoted by Angolan state news agency Angop, also said that the BNA started working with the World Bank last March to introduce legislation to make way for mobile payments.

With a mobile phone contact, citizens can make purchases or payments and money transfers in formal and informal markets, even without having a bank account or link to a bank, said Castro e Silva.

The director of the BNA also said that Angola does not already have a mobile payment system as the central bank has preferred to focus on other electronic payment systems, such as ATMs and automatic payment terminals.

The statements by the BNA director were made on the sidelines of the 8th Meeting of Payment Systems of the Central Banks of the Community of Portuguese Speaking Countries (CPLP), hosted by the BNA in Luanda.

The central banks of the CPLP meet periodically to discuss various issues related to banking, and this year addressed treasury and statistics matters, and is now debating payment systems.

Representatives from the central banks of Angola, Cabo Verde (Cape Verde), Mozambique, Portugal, Sao Tome and Principe and Timor-Leste (East Timor) and the Macau Monetary Authority are taking part in the meeting. (macauhub)