National Bank of Moldova launches instant payments system

US government backs initiative as Moldovan policy-makers seek links with western nations

National Bank of Moldova
The National Bank of Moldova

The National Bank of Moldova is launching a new instant payments system, it announced on March 12.

The MIA system functions for all mobile banking users in Moldova, including businesses. It is supported by most major banks and works via phone numbers and IBANs. 

Central bank governor Anca Dragu said the system will “streamline financial transactions, stimulate economic growth and promote better financial management”.

At first, the system will facilitate person-to-person (P2P) and request-to-pay

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