BANCO de Moçambique (BM) and Euronet will announce today, in Maputo, the entry into operation of the new solution for the processing of electronic interbank payments used by the Sociedade Interbancária de Moçambique (SIMO), within the framework of the unification of all payment platforms in Mozambique.
The new solution comes into operation about two years after the blackout in the SIMO network’s interbank electronic payment system, affecting 465 thousand transactions internally and 14 thousand externally, handling 600 million meticais daily and causing long lines at ATMs in almost all banks, except Millenium Bim.
