METIX launches and promises a revolution in bank transfers in Mozambique

The Bank of Mozambique launched METIX yesterday, the new Instant Payment System that promises to transform financial mobility in the country. The platform, which operates 24 hours a day, every day of the year, allows for immediate interbank transfers, marking a new chapter in the modernization of the national payment system.

The way Mozambicans transfer money between banks has officially entered a new era. Yesterday, the Bank of Mozambique launched the Mozambique Instant Payment System, known as METIX. The new platform, which promises to significantly impact the dynamics of financial mobility, was presented by Governor Rogério Zandamela.

During the launch ceremony, Zandamela explained that the creation of METIX is part of a broader project to modernize the National Payment System. According to the governor, this project "has been prioritizing the digitalization, efficiency, and security of financial transactions in Mozambique." The major innovation is that it is an electronic system available 24 hours a day, 7 days a week, 365 days a year, allowing for the immediate transfer and availability of funds to the beneficiary.

But how does it work in practice? Using internet banking, mobile apps, or USSD, any customer can now make interbank transfers instantly, moving funds from one bank account to another in seconds, without the traditional waiting time.

This launch represents a significant advancement over the existing infrastructure. Previously, the country had already implemented the Real-Time Interbank Transfer and Settlement System, known as RTGS, which aimed to strengthen the National Payment System's capacity to mitigate risks. In this way, RTGS provided a secure, fast, and efficient way to make transfers between banks, increasing trust among financial institutions. With it, transfers began to be confirmed immediately at the time of the transaction, which reinforced the efficiency of the banking system.

 Now, with METIX, Mozambique takes another step forward, extending the logic of instantaneity and security to a wider range of transactions and digital channels, thus consolidating the modernization of its financial system.