Digital Payments & Fintech · Zambia
Fintech & digital payments rules in Zambia (2026)
Zambia shaded by its digital payments & fintech status
Digital payments and e-money in Zambia operate under a clear licensing/designation regime run by the Bank of Zambia under the National Payment Systems Act 2007, which prohibits providing payment services without a BoZ licence and requires designation of payment systems and businesses. E-money issuance, mobile money, ATM/POS and internet payments are governed by specific BoZ directives, and a national interoperability rail (the National Financial Switch) is live. A modernised, activity-based National Payment System Act, 2026 has been adopted to replace the 2007 law and broaden BoZ licensing, consumer-protection, AML/CFT and resolution powers.
Key points
The Bank of Zambia is the payments regulator under the National Payment Systems Act No. 1 of 2007, which provides the legal basis for safe, secure and reliable payment systems and prohibits providing a payment service without a licence (penalties apply).
BoZ designates and licenses payment systems, payment system participants and payment system businesses; any person intending to conduct payment business must be designated/licensed, with published requirements for setting up a payment system business and for designation of a payment system.
E-money issuance is governed by the National Payment Systems Directives on Electronic Money Issuance (2018, revised 14 July 2023), alongside directives on ATM, POS, internet and mobile payments (2019) and on unwarranted charges/fees on e-money services (Aug 2024).
The National Financial Switch (NFS), managed by Zambia Electronic Clearing House Limited, went live in 2019 as a nationwide shared switch enabling real-time interoperability across banks, non-bank financial institutions and mobile money operators (ATM/POS then mobile-payment switching phases).
BoZ launched a Central Bank Regulatory Sandbox in 2021 to allow controlled live testing of fintech innovations under supervision without strict adherence to all regulatory requirements; the Securities and Exchange Commission also runs a separate sandbox.
The National Payment System Act, 2026 was passed to repeal and replace the 2007 Act with an activity-based law broadening BoZ powers over licensing, governance, consumer protection, AML/CFT, cyber-incident reporting, capital, segregation of customer funds and resolution/winding-up of PSPs and e-money issuers.
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Last verified 5/25/2026 · Orientation, not legal advice - verify against the primary sources linked above. Explore the full world map →