Regulatory Alerts2023-11-06
BEAC Report on Payment Services in the CEMAC Region 2022
The Bank of Central African States (BEAC) issued its 2022 report detailing that CEMAC’s 498 payment service providers processed over 2.4 billion transactions exceeding 107 trillion CFA Francs, with instant electronic money transfers dominating by volume. The document highlights the standardization of payment and escrow accounts to IBAN/RIB formats, the licensing of six dedicated payment institutions, and the consolidation of full monetic interoperability through the GIMACPAY network. It further addresses persistent challenges, including mobile data pricing, cybersecurity risks, and regulatory clarification regarding telephone credit units versus legal tender.
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