Swaziland to increase daily limit for mobile money services

News Wireless Eswatini 5 MRT 2018
Swaziland to increase daily limit for mobile money services

Swaziland's Ministry of Finance and its financial services regulatory authority are working to increase the daily limit for MTN Mobile Money transactions from the current SZL 4,500 to SZL 25,000, reported Swazi Observer. Finance Minister Martin Dlamini said this will enable small and medium enterprises and consumers to do more business on their mobile phones , providing safe, easy and quick transactions. 

The Central Bank of Swaziland governor said that there are a number of Know Your Customer (KYC) requirements that have to be looked into, stressing that MTN Mobile Mobile transactions should not compete with banks, as there are issues of money laundering that are a big concern.


 

Categories:

Mobile

Companies:

MTN Swaziland

Countries:

Eswatini

Tags:

e-Payment, Government policy

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