About
The Somalia Instant Payment System (SIPS) is the national real-time switch run by Somalia Payment Switch, a partnership between the Central Bank of Somalia and 13 commercial banks, launched in January 2025 on BPC's SmartVista platform. It moves person-to-person, merchant and government payments 24/7 between participating banks' accounts and apps, and supports SOMQR, the EMVCo-based national QR standard the central bank introduced in March 2023. Seven banks were connected at launch; the eight mobile money and e-wallet providers that carry most Somali payments are due to join, but as of July 2026 no date had been set.
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