Payment Instrument Issuer Directive.pdf
10.3 MB
NBE issued a directive that repealed Directive No. ONPS/09/2023.
The directive increases the minimum capital requirement from 50M to 100M and introduced changes to the maximum daily electronic account balance and maximum daily transaction for Level 2 accounts.
It also introduced limits to a maximum daily P2P transfer for Level 2 accounts and a maximum daily person to merchant electronic (including mobile banking) transfer using a standardized Ethiopian QR Code payment system.
The most consequential change is that the directive makes #interoperability mandatory, i.e., payment instrument issuers (PIIs) are now required to "enable their users to send and receive electronic money to and from other payment instrument issuers (wallet-to wallet interoperability) through the national switch or other licensed operator".
Interoperability otherwise than through the national switch (i.e., #EthSwitch) or other licensed switch operator is outlawed.
@PatternFin
The directive increases the minimum capital requirement from 50M to 100M and introduced changes to the maximum daily electronic account balance and maximum daily transaction for Level 2 accounts.
It also introduced limits to a maximum daily P2P transfer for Level 2 accounts and a maximum daily person to merchant electronic (including mobile banking) transfer using a standardized Ethiopian QR Code payment system.
The most consequential change is that the directive makes #interoperability mandatory, i.e., payment instrument issuers (PIIs) are now required to "enable their users to send and receive electronic money to and from other payment instrument issuers (wallet-to wallet interoperability) through the national switch or other licensed operator".
Interoperability otherwise than through the national switch (i.e., #EthSwitch) or other licensed switch operator is outlawed.
@PatternFin
👍1