Payments/KM
Comoros
ISO KM · 3 schemes
Summary
- National Payment Switch launched (PayLogic)
- Mvola leading mobile money (Yas Telecom)
- MobiCash expanding in rural areas
- 70% unbanked population
- Interoperability banks and mobile money
Banking landscape
Central Bank
- Name: Banque Centrale des Comores (BCC)
- Website: https://www.bcc.km/
- Role: Monetary policy, payment oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Banque de Développement des Comores | Development | BDC Mobile |
| 2 | Banque Fédérale de Commerce | Commercial | BFC App |
| 3 | Exim Bank Comoros | Pan-African | Exim Mobile |
| 4 | Banque pour l'Industrie et le Commerce | Commercial | BIC App |
Market Structure
- 70%+ unbanked: Population underserved
- Few ATMs: Limited infrastructure
- Cash dominant: Primary payment
- Mobile money: Growing alternative
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| National Payment Switch | PayLogic | Interbank | Active |
| Mvola | Yas Telecom | Mobile money | Active |
| MobiCash | Telma | Mobile money | Active |
| D7 | Provider | Mobile money | Active |
National Payment Switch (PayLogic)
- Unified payment system
- Banks connected
- Microfinance institutions
- Mobile money operators
- Real-time transactions
Switch Features
- Interoperability enabled
- Seamless bank-mobile transfers
- Expanded access
- Rural area reach
- Faster settlements
QR code standards
No Widespread QR Standard
| Attribute | Value |
|---|---|
| National QR | Not established |
| Mobile Money | Limited QR |
| Focus | Interoperability first |
| Infrastructure | Developing |
Payment Switch Priorities
- Interoperability first
- Bank-mobile linkage
- Real-time processing
- Security framework
- Rural expansion
Future Potential
- QR codes possible via switch
- Mobile money evolution
- Merchant payments
- Digital inclusion
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Mvola | Yas Telecom | Limited | Full wallet |
| MobiCash | Telma | Limited | Mobile money |
| D7 | Provider | Limited | Basic transfers |
Mvola
- Most prominent mobile money
- Send and receive money
- Pay utility bills
- Mobile top-up
- Yas Telecom backed
MobiCash
- Expanding digital payments
- Rural area focus
- Agent network
- Underserved population access
Mobile Access
- 60%+ phone access (2021)
- Growing smartphone penetration
- Financial transaction use
- Digital transformation
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| National Switch | Interbank | PayLogic | New | national-switch |
| Mvola | Mobile money | Yas | Leading | — |
| MobiCash | Mobile money | Telma | Growing | — |
Sources
- PayLogic - National Switch
- XD Africa - Payments Comoros
- Transfi - Comoros Payments
- World Bank - Payment Systems
- Wise - Payment Methods
- Swift Codes Comoros
Full country report
Schemes
Standards
Primary · 1
Mentioned · 1