Advances in technology have given rise to innovative payment methods that are quickly replacing cash as a payment instrument. The Reserve Bank of Malawi (RBM) is cognizant of these technological transformations and is keen to prepare the Malawi economy for the transition to the adoption and use of digital financial services. In this vein, the RBM, in collaboration with the Ministry of Trade, issued Business Licensing Regulations for the deployment and usage of electronic payment channels.
Impact / Outcome
The RBM, supported by the Alliance for Financial Inclusion (AFI) and the Mastercard Foundation, initiated the “Scale-up and Regulation of Electronic Payments/Digital Financial Services” project in September 2021 to operationalize the Business Licensing Regulations and enable Malawi to scale up the usage of electronic payments. They are meant to enable consumers to benefit from fast, secure, and convenient digital payments.
Funding sources
Public/Private
Key Metrics
The overall objective of the project is to increase the adoption and usage of electronic payments both on the supply and demand sides through sensitization and public awareness activities.
Operating model
Fully privateYear published
01 November 2023 
Mastercard Foundation