Non-bank payment services providers, as well as bankers, will have access to the Automated Interbank Payment System (AIPS). As a result, payment services providers will operate in an equal competitive environment and the circulation of money between participants in the payment system in lei will be more fluid. This comes after the National Bank of Moldova has approved a series of decisions in the field of cashless payment services.
In a NBM press release, it is mentioned that the approved decisions take into account both the needs of the consumers and several aspects of the latest European legislative trends. The new provisions are aimed at increasing the financial mobility of consumers, ensuring greater transparency of commissions and encouraging the use of cashless payments. At the same time, the rules issued by the central bank create the necessary premises for extending the activity of non-bank payment services providers. Thus, cashless services will be diversified and user confidence in the cashless payment instruments will increase.
As a result of the National Bank's decisions, in addition to the promotion of cashless payments, is the transparentization of commissions applied by the payment services providers and, implicitly, the optimization of the national public budget expenditures. Government commissions paid to services providers are capped at 0.5% per operation. Likewise, the commissions applied to AIPS participants and the maximum values for user commissions were approved.
Additionally, the new provisions bring clarity on how to evaluate potential buyers, the concerted activity and the quality of the shareholder. Thus, people who intend to acquire a qualifying holding in the capital of a non-bank payment services provider will have to obtain the National Bank's approval in advance. The purpose of the regulations is to set a stable, prudent and safe administration of the activity of non-bank payment services providers.
