The MIA Instant Payments System, developed by the National Bank of Moldova (BNM), was launched in Chisinau on March 12, being a first ever event on the financial market of Moldova. The system is available in the financial institutions of the country and allows consumers and companies transferring money in less than 15 seconds, without the payment of commissions and no matter the bank, only based on the phone number, by giving the citizens and companies a quick, safe and efficient way of carrying out transactions.
“I am confident that MIA will soon become a technology available for each citizen or businessman. MIA will optimize the financial transactions, will stimulate the economic growth and will promote a good management of money. Hence, Moldova today makes a significant step to a modern financial world and BNM consolidated the country’s position among the states which adopt advanced technologies, in order to back the economic evolution and give the citizens easier access to the financial services,” BNM Governor Anca Dragu said.
Prime Minister Dorin Recean said that “the implementation of the MIA instant payments system marks an important moment in the modernization of the native payments system.”
“We speed up, simplify and cut the costs of the financial transactions for all citizens, contributing to the economic security and efficiency. Through launching MIA, we make sure that we remain on the way of innovation, facilitate the equal access to the payment services and support the sustainable economic growth. This is a concrete step towards the backing of our citizens and Moldova’s aligning with the European digital economy,” Dorin Recean also said.
U.S, Ambassador to Moldova Kent D. Logsdon said that the system developed by BNM was not only a technological innovation, but represented a transforming step, which enhanced the financial inclusion and the payments’ digitalization.
“The implementation of the instant payments system and the experience gained in this process will help Moldova get closer to the European economic area,” the ambassador noted.
The instant payments give possibility to transfer funds in Moldovan lei between accounts in just several seconds, being available 24 hours during 7 out of 7 days. This characteristic feature makes the instant payments be an extremely convenient option for the quick and efficient transactions, no matter the moment or the day of the week.
The transfers of up to 10,000 lei per month are made without commission, while for larger sums the commissions collected will not exceed 5 lei for one transfer. (Moldpres/Business World Magazine)
