Over 532,000 people have adopted MIA in their daily financial activities. The number of payments exceeds 5 million, and their total value is over 4.8 billion lei. The data were presented by the National Bank of Moldova one year after the launch of the instant payment system, IPN reports.
According to the NBM, implemented to ensure fast, secure and affordable transfers, the MIA system in only 12 months has become an indispensable solution in consumers' daily lives. It allows instant transfers between all payment accounts, regardless of the financial institution, using only the recipient's phone number, without exposing bank details. Transfers are free of charge up to 10,000 lei per month, and for amounts exceeding this ceiling, the fees do not exceed 5 lei per transaction, regardless of the financial institution.
"In the first year since its launch, MIA has continuously evolved, adding functionalities designed to simplify and accelerate digital payments. These innovations contribute to an intuitive user experience and a broader integration of the system into daily financial activities for both citizens and the business environment," reads a press release.
Users can make instant transfers using only the recipient's phone number, eliminating the need to manually enter bank details. It also facilitates the management of payments between people, allowing users to send and receive money through a simple message, a useful functionality for dividing expenses or managing debts.
Transfers between people are also possible by generating and scanning QR codes: It simplifies transactions by using QR codes, reducing the risk of errors and protecting users' personal data. At the same time, Me2Me transfers offer the possibility to quickly and free transfer funds between their own accounts opened at different financial institutions, increasing users' flexibility in managing financial resources.
The NBM aims to continue developing and expanding the functionalities of the MIA, having two essential priorities. It goes to facilitating payments for consumers. Thus, even more convenient and affordable payments will be ensured, integrating new functionalities and improving the user experience. The acceptance of MIA payments in various business sectors will also be expanded.
"Recently, the Republic of Moldova was accepted into the Single Euro Payments Area - SEPA. In a few months, banks in the Republic of Moldova will be able to offer safe, fast and very low-cost transactions to the European Union and from the European Union to the Republic of Moldova," said NBM governor Anca Dragu.
