According to figures contained in the Reserve Bank of Malawi (RBM)’s National Payment System (NPS) second quarter report, the number of registered mobile money agents increased by 22.5%.

The above represents 69,055 agents that are now registered, but there was a low activity rate for mobile money agents during the period in review, with activity declining from 67.8% to 61.0%.

On the other hand, the total number of subscribers for internet banking services declined by 4.2% to 204,394 during the period under review and the value declined by 3.3% to K779.6 billion with volume slightly increasing by just 1.3% to 591,217.

Overall, the pandemic has seen a push in digital transactions, as the coronavirus can easily spread through the exchange of hard cash. Though banking halls are available to customers, the likelihood of contracting the disease is higher hence digital transactions are urged to be the primary choice. While RBM provided a 3 month moratorium for charges on mobile money operators, the central bank is consulting on extending the moratorium.