Today (16), the Governor of the Banco de Moçambique rolled out the Mozambique Instant Payment System, designated METIX, at the Bank’s Cultural Centre in Matola city.

Speaking at the ceremony, Rogério Zandamela stated that the roll-out of METIX is part of the broader project to modernise the National Payment System, which has prioritised the digitalisation, efficiency and security of financial transactions in Mozambique.

The Governor highlighted several milestones achieved in the modernisation process since 2023, namely the implementation of full interoperability between mobile money institutions, as well as between these institutions and banks, thereby promoting greater integration within the financial system; the launch of the new Electronic Clearing System, which reduced the time required for funds to be made available to final beneficiaries; and the operationalisation of the Real-Time Gross Settlement System, also known as RTGS, aimed at strengthening the capacity of the National Payment System to mitigate risks while providing a secure, fast and efficient means of conducting transfers between banks.

According to the Governor, these reforms have provided for gains in the diversification of payment instruments available to the public, but there was still room for improvement. “Despite the notable progress achieved, some challenges prevailed in our National Payment System, particularly regarding the efficiency of interbank retail transactions, notably in terms of speed, convenience and costs,” he said.

In this light, Zandamela underscored that approximately two years ago the initiative emerged to develop and implement the Mozambique Instant Payment System, an electronic retail payments platform that enables the transfer and immediate availability of funds to the beneficiary.

Moreover, Rogério Zandamela highlighted the benefits of METIX for citizens, noting that funds will be made available within seconds and that interbank transfers conducted by individuals through this platform will be free of charge. He added that the system will operate 24 hours a day, seven days a week, 365 days a year, allowing citizens to conduct transactions at any time with convenience and ease of access. Transactions may be carried out through bank websites, mobile applications or USSD banking channels, without requiring internet connectivity or mobile data, thereby enabling its use by any citizen.

The top official of the issuing bank expressed his conviction that, with the introduction of the Instant Payment System, the necessary conditions are now in place for citizens to carry out their interbank transactions in a simpler, faster, more affordable and more convenient manner, within an increasingly secure, inclusive and modern environment. He acknowledged that “this technological advancement requires from all of us an ongoing commitment to digital and financial literacy. For this reason, the Banco de Moçambique reiterates its commitment to promoting financial education and calls on all financial institutions to strengthen initiatives in this area, ensuring that all Mozambicans can use these tools with confidence, responsibility and security”.

The Governor wrapped up his remarks by announcing the name given to the system and explaining the rationale behind it: “The Banco de Moçambique decided to assign the Instant Payment System a name that would be easy to pronounce, evocative and reflective of the main characteristics of this type of system. Based on these criteria, the name METIX was chosen, referencing the Metical and conveying speed and convenience in transactions supported by technological advancement.”

In remarks to the press, the Director of the Banking Services and Payment Systems Department, Gabriel Domingos, provided a detailed explanation of the platform’s functionalities, highlighting its advantages in terms of costs, speed and convenience.

Members of the Board of Directors, advisers, managers, and officials of the Banco de Moçambique attended the event, alongside representatives of the World Bank and the International Monetary Fund, the chairs of the Mozambican Banking Association and the Interbank Society of Mozambique, as well as representatives of commercial banks and mobile money institutions.

To learn more about METIX, click here.