Mozambique reinforces immediate transfers with fewer and fewer checks

“ A continuous modernization of settlement systems influenced the use of traditional instruments of interbank payments ", highlights the report of the Bank of Mozambique, explaining that from 2024 to 2025 the issuance of cheques retreated almost 25%.

By 2023, the Mozambican banking system had processed 949,000 checks.

Last year, these checks accounted for a movement of 243 billion meticals (EUR 3,281 million) against 282 billion meticals (EUR 3,807 million) in 2024, according to the same data.

In turn, the incidence of cheques without provision also decreased by 2025, from 7.55%, from 3,110 customers to 2,880, also observing a reduction in the number of customers registered in the ‘blacklist’ (-12,67%) and in the ‘primary list’ (-3.55%), compared to 2024.

“ This evolution is consistent with the reduction of the use of the cheque in the payment system ", justifies the central bank.

In addition to cheques, the traditional Interbank Electronic Transfers (ITS) followed the drop in cheques and withdrew 13.2% in 2025, to 2,477 million transactions, amounting to 433 billion metrics (EUR 5,848 million).

“ The reduction of the TEI reflects the consolidation of real-time settlement platforms, especially RTGS [real-time wholesale payment system], as well as the strengthening of interoperability through SIMOrede. These advances have favored, among others, migration to immediate transfers, progressively reducing the use of traditional payment instruments”, reads in the document of the Bank of Mozambique.

Already this year, the new Mozambican Instant Payment System, called Metix, launched in March and which will end the fees charged by banks in transfers between private individuals, which will be made in seconds, then announced the governor of the central bank.

“ Despite the remarkable progress made, there were still some challenges in our National Payment System, particularly with regard to the efficiency of interbank retail transactions, particularly in terms of speed, convenience and costs,” said Rogério Zandamela in Maputo at the launch of the platform after two years of development.

With Metix “funds will be made available immediately, i.e. in a few seconds”, transfers between banks, made by private individuals, through this platform, “will be free of costs”, which will be “available 24 hours a day, seven days a week and 365 days a year”.

“ Finally, it is a convenient and easily accessible system that can be used through the websites, mobile applications or via banks' USSD channels. The USSD channel guarantees access to the system through any type of mobile phone, without the need to connect to the internet or mobile data, thus allowing its use by any citizen,” he added.

The new tool is part of “the broad modernization project of the National Payment System, which has been focusing on digitisation, efficiency and security of financial transactions in Mozambique” since 2023, such as, among others, the complete “interoperability” between the EMIs and between them and banks, “promoting greater integration into the financial system”.

The system is “operated and managed” by the Mozambican Interbank Society (SIMO) and provides that financial institutions may limit the maximum daily amounts for immediate transfers to 200 thousand methicals (EUR 2,670) for natural persons and 500,000 methicals (EUR 6,680) for legal persons.

In Mozambique 15 commercial banks and 12 microbanks operate, as well as credit unions and savings and credit organizations, among others.