The Central Bank of West African States (BCEAO) wants to promote
electronic payments in the context of the fight against the spread of COVID-19, said Thursday the
Director of Cabinet of the Ministry of Digital Economy and Post (MENUP), Dr Séverin Guibessongui
N'datien, in a press release sent to AIP.
As part of the implementation of the measures taken on March 21, 2020, the BCEAO informs the public that it
continues its actions to support the efforts of the public authorities of the Member States of the Union in the fight against
against the spread of COVID-19.
In this regard, the BCEAO, the entire banking community and the money institutions
EU electronics have taken further steps to encourage people to limit contact
physical through the use of digital payments.
According to the bceao press release, dated April 1, 2020 in Dakar (Senegal) headquarters of the institution, Dr. Séverin
Guibessongui N'datien highlights a total of eight measures.
First of all, it is a question of free, at the national level, electronic money transfers between people
for amounts less than or equal to 5,000 FCFA, including transfers from bank accounts to
electronic wallets, and vice versa, free payments of water and electricity bills,
via mobile telephony, for amounts less than or equal to 50,000 FCFA.
There is also talk of the abolition by electronic money issuers of commissions
paid by merchants on merchant payments, backed by electronic money, but also
the 50% reduction by banks in commissions paid by merchants on payments
merchants, card-backed in the network of the Groupement interbancaire monétique de l'Union
West African Economic and Monetary Affairs (GIM-UEMOA).
This is also the 50% reduction in fees applied to customer bank transfers, processed
via the WAEMU Interbank Automated Clearing System (SICA-UEMOA) as of
the relaxation of the conditions for opening electronic money accounts.
As such, e-money issuers are allowed to activate e-wallets
on the basis of mobile telephony data, subject to obtaining by any means the agreement of the customer
and to carry out the due diligence related to remote identification, within the limits of the regulatory ceilings.
Finally, it is recommended to reduce credit card withdrawal fees by 50% in the regional network of
GIM-UEMOA
In addition, the BCEAO commits the banking community to ensure the availability and quality of services
at ATMs and electronic payment terminals.
These measures, according to the sub-regional financial institution, come into force on April 03, 2020, for
a period of 30 days renewable depending on the evolution of the health situation.