Two years since launch of MIA Instant Payments in Moldova: over 31 million transactions processed, with total value of around 28.5 billion lei

Around 2 million transactions worth nearly 2 billion lei are carried out through the MIA Instant Payments System each month. Since its launch to date, the system has processed over 31 million transactions, with a total value of around 28.5 billion lei. The National Bank of Moldova (BNM) today unveiled information to this effect, on the occasion of two years since the introduction of business payments – the P2B (Person to Business) functionality – and one year since the official launch of public service payments P2G (Person to Government) within the MIA Instant Payments system.

According to BNM data, more than 985 thousand unique users are currently registered in the system, which confirms the widespread adoption of MIA Instant Payments. Users can make payments to entrepreneurs, as well as receive transfers or payment requests via their phone number.

Launched on July 31, 2024, the P2B (Person to Business) functionality within the MIA Instant Payments system has quickly become the most accessible method for accepting payments for businesses in various fields: shops, restaurants, online platforms, service providers, family businesses, etc.

In two years, over 11,000 entrepreneurs have integrated MIA into their daily operations and the solution is now available in more than 23,000 acceptance points across the country. More than 3.8 million payments to the business sector have been made through MIA Instant Payments, with a total value of around 2 billion lei.

At the same time, in the first year since the official launch of instant payments for public services, citizens have made more than 113,000 payments to the state via MIA Instant Payments, worth over 64 million lei. The P2G functionality in the MIA Instant Payments system allows citizens to pay taxes, fines and public services on the government platforms EVO and MPay directly from their financial application, without manually entering card data or payment details. Payments are processed instantly and the service is available around the clock.

BNM Governor Anca Dragu said that, through the development of MIA Instant Payments, Moldova had made significant progress in digitizing payments and modernizing the economy and the system is already an example of good practice in the region.

“MIA has become the cornerstone of an innovative financial ecosystem, providing businesses with a concrete advantage by reducing costs and speeding up collections, while the economy benefits from a faster and more transparent circulation of money,” the BNM governor emphasizes.

MIA Instant Payments has transformed the way money circulates in the economy, becoming the most widely used digital solution in the country: it allows money to be transferred in just a few seconds, directly from a mobile phone, at very low or even zero cost. Thus, the system has contributed to increasing economic efficiency, reducing operational costs and accelerating the digitalization of payments in the national currency.

According to the BNM, MIA Instant Payments continues to develop by introducing new functionalities and expanding the cases of use of instant payments, including through the implementation of transfers between companies: MIA-B2B.