As a rapidly developing island nation in East Africa, the Comoros Union is reshaping its digital finance and online gambling ecosystem through the launch of the National Payment Switch. This platform enables secure, real-time transactions between banks, microcredit institutions, and mobile money operators, opening up new market opportunities for operators and players.
The platform, launched by global leading payment solution provider PayLogic, is seen as an important milestone in the financial sector of Comoros, marking a significant enhancement in financial inclusion and positioning the country prominently in the African digital gambling market.
According to We are Tech, the platform supports interoperable transactions among banks, microcredit institutions, and mobile money operators (including popular services like Mvola and MobiCash). In a country where over 70% of the population lacks bank accounts and cash transactions dominate daily life, this development is significant.
Mohamed Mekouar, the Executive Chairman of PayLogic, stated: "The successful launch of the Comoros National Payment Switch reflects our commitment to building secure, interoperable payment infrastructures in emerging markets." He emphasized that seamless digital transactions would bring about significant transformative effects.
This initiative is part of the World Bank's "Financial Sector Development Support Project," aimed at reducing cash dependency and enhancing financial accessibility. The Central Bank of Comoros is also implementing policies for free account opening and remittances, planning to reduce banking service fees by 50% by the end of 2025.
Seamless payments bring new growth momentum to the online gambling industry. Operators can offer convenient payment services to players nationwide through the platform, overcoming previous limitations of cash transactions and insufficient banking facilities. This development particularly benefits rural players and overseas expatriates who were previously restricted.
The integration of mobile payment services like Mvola and MobiCash further enhances the convenience of capital circulation, allowing players to easily make deposits and withdrawals. In regions with high mobile penetration but limited traditional banking services, this advantage is particularly prominent.
As the Comoros Union gradually embraces digital financial services, its impact is radiating across the entire African market. For the online gambling industry, this signifies a move towards a more inclusive, efficient, and secure payment ecosystem, laying a solid foundation for future growth and innovation.
