At DC Fintech Week, National Bank of Moldova Deputy Governor Mihnea Constantinescu presented the implementation model behind the MIA Instant Payments System, which now has more than 1 million unique registered users. He argued that rapid payment modernization is achievable in a small economy when the central bank funds the infrastructure and requires all payment service providers to participate from launch. MIA began on March 12, 2024, with person-to-person transfers initiated through phone numbers and has expanded to QR codes, payment links and requests, merchant and public institution payments, and instant business-to-business payments. Comparing Moldova’s experience with Brazil’s Pix and India’s UPI, Constantinescu also discussed how system architecture and data governance could support new financial services based on data and artificial intelligence agents.
National Bank of Moldova presents MIA instant payments model built on central bank funding and universal participation
National Bank of Moldova Deputy Governor Mihnea Constantinescu presented MIA as a central bank funded instant payments model with mandatory participation by all payment service providers. The system has expanded beyond phone-based transfers to merchant, government and business payments and now has more than 1 million unique registered users.