Success of Rwanda’s eKash comes from mandatory use – governor
Central bank learned from UPI and Pix on how to lower transaction costs on instant payment system
The success of Rwanda’s instant payments system in reducing transaction costs came from both government investment and mandating the routing of all person-to-person (P2P) transactions through the platform, the governor of the National Bank of Rwanda has said.
The system, known as eKash, was launched in 2022. However, the central bank announced in July that it had made it mandatory for P2P interoperable transfers to be routed through eKash. This meant banks and microfinance institutions could no
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