Just three months after the launch of MIA for businesses, more than 700 merchants have activated their new payment methods. These merchants now accept payments via QR codes and links, offering customers various payment options. According to the National Bank of Moldova, 24,000 QR codes have been generated so far, through which approximately 6.4 million lei have been transferred to merchants.
The MIA system for businesses provides alternative methods for accepting electronic payments, regardless of the financial institution with which the merchant holds accounts. Thanks to the new MIA features designed for businesses, entrepreneurs can accept QR code payments at points of sale, integrate the MIA payment button into their online stores, and offer link-based payments when products are delivered remotely.
“The main benefit for businesses is that the transferred amount reaches the company’s account in just ten seconds. An important advantage is the single commission of up to 0.8% applied to most business payments. For social services (public transport, hospitals, education, utility payments), the commission cannot exceed 0.5%”, says the National Bank of Moldova.
QR code payments allow buyers to make quick payments at checkout by simply scanning the code with their mobile phone or financial app. Merchants can generate three types of QR codes: static QR (customers can scan and pay for goods and services in seconds without additional equipment or software), dynamic QR (the code can be generated for a specific time period), and hybrid QR (the QR code can be displayed at the checkout).
Link-based payments can be made online through a unique link provided by the service provider. This link directs the buyer to a secure payment page, where they select their desired financial app and enter payment details to complete the transaction. Merchants can integrate the payment link into online stores or send it directly to buyers via email, text messages, messaging apps, etc.
Merchants can contact financial institutions to connect to MIA for businesses and choose their preferred payment acceptance method.
The MIA Instant Payment System can be used by all mobile banking users in the Republic of Moldova, including individuals with a payment account at a bank or payment institution. Transfers of up to 10,000 lei per month are free of charge. For larger amounts, the fees charged will not exceed 5 lei per transfer.
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