Moldova’s MIA Launches Instant B2B and QR Code Payments

The MIA system is launching instant payments for businesses and QR code payments

The MIA Instant Payments national payment system, developed by the National Bank of Moldova (NBM), has officially surpassed the 1 million user mark. At the same time, the platform has announced a major expansion of its functionality, which will radically change the game for Moldovan businesses: the launch of instant B2B (business-to-business) transfers and the acceptance of payments via QR codes.

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Today, MIA has become a truly nationwide service — it is used by one in two bank account holders in the country. This new phase of development is focused on the digitalisation of the commercial sector. More than 12,000 economic operators have already connected to the system, and instant payments can be accepted at over 24,000 retail and service outlets across Moldova.

What is changing for businesses?

The introduction of new tools enables companies to significantly optimise costs and accelerate capital turnover. Key innovations include:

Round-the-clock B2B payments: Legal entities can now transfer funds to counterparties instantly, 24/7/365, without delays at weekends or on public holidays. The maximum amount per transaction can reach 500,000 lei.
Contactless payments via QR codes and links: Retail and service businesses can generate static or dynamic QR codes, as well as payment links, for instant settlement with customers. Funds are credited to the merchant’s account within 10 seconds.
Record-low fees: The fees in the MIA system are significantly more favourable than those of traditional acquiring services. The standard fee for businesses is just 0.7 per cent (but no more than 40 lei per transaction), whilst a preferential rate of 0.5 per cent applies to organisations in the healthcare, education and social services sectors.

Views and prospects

Representatives of the financial sector note that the launch of B2B payments and QR codes via MIA will enable small and medium-sized businesses to reduce transaction costs and do away with expensive equipment.

“MIA Instant Payments has proven its effectiveness for private individuals, becoming the fastest-growing financial product in Moldova’s history. Our aim now is to provide businesses with modern, secure and, above all, affordable payment tools. The integration of QR codes and B2B transfers is a direct step towards reducing the share of cash in the economy and increasing business transparency,” emphasise officials at the National Bank.

At present, the country’s leading commercial banks are finalising the technical integration of the updated MIA platform. Entrepreneurs can activate the new features via their mobile and online banking apps.

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