Payments/SZ
Eswatini
ISO SZ · 3 schemes
Summary
- MTN MoMo dominant mobile money
- Cross-border SA launched Dec 2024
- Mastercard partnership QR enablement
- E25,000 wallet limit (300% increase)
- e-Mali alternative mobile money
Banking landscape
Central Bank
- Name: Central Bank of Eswatini (CBE)
- Website: https://www.centralbank.org.sz/
- Role: Monetary policy, payment oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Standard Bank Eswatini | International | SB Mobile |
| 2 | First National Bank | International | FNB App |
| 3 | Nedbank Eswatini | International | Nedbank App |
| 4 | Eswatini Bank | Local | Eswatini Mobile |
| 5 | Swaziland Building Society | Local | SBS App |
Market Structure
- MTN MoMo: Dominant mobile money
- Regional banks: SA-based presence
- Dual currency: SZL pegged to ZAR
- Cross-border: SA integration
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| MTN MoMo | MTN | Mobile money | Dominant |
| e-Mali | Provider | Mobile money | Active |
| Bank Transfers | Banks | EFT | Active |
MTN MoMo Eswatini
- Mobile money leader
- Cross-border SA (Dec 2024)
- Bank integrations
- Expanded wallet limits
Bank Integration
- Swaziland Building Society
- Eswatini Bank
- Standard Bank
- FNB and Nedbank
QR code standards
MoMo QR (Mastercard Partnership)
| Attribute | Value |
|---|---|
| Partnership | MTN + Mastercard (Feb 2024) |
| Feature | QR enablement |
| Access | 100M+ global locations |
| Markets | 13 African countries |
Mastercard Features
- QR enablement for SMEs
- Tap on Phone solutions
- Digital card acceptance
- Virtual and physical cards
MoMo Payment Features
- Pay merchants
- Bill payments
- Airtime purchase
- Data bundles
- Groceries
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| MTN MoMo | MTN | Yes | Full wallet |
| e-Mali | Provider | Limited | Mobile money |
MTN MoMo Features
- Send and receive money
- Pay bills
- Buy groceries
- Airtime and data
- Bank transfers
Cross-Border (Dec 2024)
- South Africa to Eswatini
- Direct wallet transfers
- No paperwork
- No queues
Wallet Limits
- Previous: E4,000
- Current: E25,000
- 300%+ increase
- Withdrawals and transfers
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| MTN MoMo | Mobile money | QR | Dominant | mtn-momo |
| Mastercard | Partnership | Global | 2024 | — |
| e-Mali | Mobile money | USSD | Active | — |
Sources
- MTN Eswatini - MoMo
- MTN Eswatini - MoMo Personal
- MTN Eswatini - MoMo Transfer
- MTN Eswatini - Bank Transfers
- Mastercard - MTN Partnership
- Africa Press - SA Cross-border
- Temo Group - MoMo Charges
- MTN Eswatini - Fees
Full country report
Schemes
Standards
Primary · 1
Mentioned · 2