The National Bank of Rwanda has set guidelines for mobile-phone payment systems in that country, according to a notice on the institution’s website.
The country’s central bank also says it is conducting research to ensure the infrastructure of mobile-payments providers is secured and protected once it begins to issue more licenses.
Thus far, the bank has issued a license for mobile payments only to MTN Rwandacell Ltd. The company’s MTN Mobile Money service is available in local currency only, but in its guidelines the central bank says it is open to mobile-payments providers supporting transactions in multiple currencies if needed.
Under the bank’s guidelines, a mobile-payment system would have use two account systems. One would be the electronic system the provider operates that should be interoperable among telecommunication companies. The other would be a banking account that authorizes the “Trust Account” for the operator.
The central bank indicated that it soon would convert the guidelines into regulations, probably by end of December.
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