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MIA Instant Payment System is a step towards aligning with European digital economy, PM

Prime Minister Dorin Recean said the launch of the MIA Instant Payment System represents a concrete step towards supporting the citizens and aligning the Republic of Moldova with the European digital economy. This event marks an important moment in the modernization of the domestic payment system and the costs of financial transactions for all the citizens will be thus accelerated, simplified and reduced, which will contribute to economic security and efficiency, IPN reports.

“By launching the MIA, we ensure that we stay on the path of innovation, facilitate equal access to payment services and support sustainable economic growth. It is a concrete step towards supporting our citizens and aligning Moldova with the European digital economy,” Premier Recean said at the launch staged by the National Bank of Moldova.

The MIA Instant Payment System, developed by the NBM, was launched during an event organized in partnership with the USAID Moldova Institutional and Structural Reforms Activity.

According to NBM specialists, instant payments offer the possibility of transferring funds in MDL between accounts in just a few seconds, being available nonstop, 24 hours a day, seven days a week. This feature makes instant payments an extremely convenient option for fast and efficient transactions, regardless of the time or day of the week. It’s a significant improvement over traditional payment methods, which can take hours or even a business day. The service is accessible through mobile banking applications and online banking, offering unprecedented flexibility and convenience to users in the Republic of Moldova.

Instant payments allow citizens to carry out financial transactions at any time and from anywhere, using mobile devices or other methods of Internet access. This reduces dependence on intermediaries, geographical location, working hours.

The limits for a transaction are 5,000 lei, the limits for transactions for one day – 10,000 lei, while for a month – 30,000 lei. Transfers of up to 10,000 lei per month are made without commission, while for larger amounts the commission will not exceed 5 lei for a transfer.

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