RegAlertMoldova: fintech & payments regulation — 2026-09
RegulatedNBM regulates fintech under Law 114/2012; licensing required for payments and e-money
Frozen snapshot — the guide as it stood at the end of 2026-09. See the live guide for the current state.
The National Bank of Moldova (NBM) is the sole supervisor for payment institutions and electronic money institutions. The regime is governed by Law No. 114/2012 and detailed in NBM regulations effective January 2024. The framework mandates strict licensing for payment processing and e-money issuance, with capital requirements scaling by activity type. Recent updates have standardized technical interfaces and audit requirements.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Institution[1][2] Requires NBM license under Law 114/2012 | MDL 200,000 | 3-6 months | National Bank of Moldova |
| E-money & wallet issuance | LicenceElectronic Money Institution[1][2] Requires NBM license under Law 114/2012 | MDL 200,000 | 3-6 months | National Bank of Moldova |
| Domestic money transfer | LicencePayment Institution[1][2] Domestic transfers fall under payment services | MDL 200,000 | 3-6 months | National Bank of Moldova |
| Cross-border remittance | LicencePayment Institution[1][2] Cross-border payments require NBM license | MDL 200,000 | 3-6 months | National Bank of Moldova |
| Agent network | LicencePayment Institution[1][2] Agents must be appointed by licensed entity | MDL 200,000 | 3-6 months | National Bank of Moldova |
| Open banking / account information | LicencePayment Institution[3][4] AIS/PIS requires payment service license | MDL 200,000 | 3-6 months | National Bank of Moldova |
| Foreign-exchange services | LicenceForeign Exchange Entity[5][6] Separate FX licensing regime applies | uncertain | uncertain | National Bank of Moldova |
New — what changed recently
- 2026-03-20Decision No. 33 — Approved functional and technical requirements for account servicing payment service provider interfaces.
- 2025-07-17Decision No. 162 — Established comprehensive supervisory requirements and risk-based control procedures for non-bank payment service providers.
- 2024-01-25Decision No. 11 — Approved new regulations on licensing and registration of payment and electronic money institutions, repealing previous rules.
Market-entry checklist
- 1Secure NBM LicenseApply for Payment Institution or EMI license under Law 114/2012.
- 2Meet Capital RequirementDeposit minimum MDL 200,000 in a blocked bank account.
- 3Implement AML/CFTEstablish internal controls and risk assessment procedures per NBM Decision 202.
- 4Prepare Technical SystemsEnsure compliance with Decision No. 12 on Strong Customer Authentication.
- 5Submit Audit ReportsArrange for annual audits by NBM-approved audit firms.
Sources
- Regulation on the Activity of Non-Bank Payment Service Providers · 2024-01-11
- Regulation on the Activity of Non-Bank Payment Service Providers · 2024-01-11
- Decision No. 33 of the National Bank of Moldova on the Approval of Functional and Technical Requirements for Account Servicing Payment Service Provider Interfaces · 2026-06-25
- Decision No 12 Approving the Regulation on Strong Customer Authentication and Open, Common, and Secure Communication Standards · 2024-01-11
- Regulation on the Supervision of Foreign Exchange Entities · 2025-07-17
- Regulation on the Activity of Foreign Exchange Entities · 2016-12-01