Starting November 2, 2026, mobile money transactions in Benin and the West African Economic and Monetary Union (UEMOA) will be required to go through the Interoperable Platform for Instant Payment System (PI-SPI) of the Central Bank of West African States (BCEAO). This move aims to enhance the efficiency and accessibility of electronic transactions across the region. The PI-SPI platform is designed to facilitate seamless transactions between different financial service providers.
In Benin, major mobile money operators such as MTN MoMo, Moov Money, and UBA have announced adjustments to their services in response to the new regulation. One of the key changes is the introduction of free national transfers between individuals up to 8,000 FCFA per day. This change is part of a broader set of measures aimed at improving the user experience and reducing transaction costs for mobile money users.
The implementation of the PI-SPI platform is in line with the BCEAO's efforts to standardize and enhance the interoperability of electronic payment systems across the UEMOA region. The platform allows for transactions to be executed in a few seconds, at any time, and on any day of the week. This development is expected to increase financial inclusion and facilitate economic activities across the region.
The new regulations, as outlined in the BCEAO's Notice No. 0019 published on October 2, 2026, set the stage for a more integrated and efficient mobile money ecosystem. The notice specifies the rules for electronic money transactions between individuals, both nationally and within the UEMOA community. It also establishes a cap on transaction fees that can be applied by financial institutions.
Key changes announced by mobile money operators in Benin include revised tariff grids, increased account limits, and the expansion of operational channels. For instance, the maximum balance for mobile money accounts can reach 4 million FCFA, with a monthly cap of 15 million FCFA for account reloads. These changes are designed to provide users with greater flexibility and higher transaction limits.
The PI-SPI platform, established by the BCEAO, is a regional infrastructure that enables participating banks, electronic money institutions, microfinance institutions, and payment establishments to conduct transactions with each other. The platform's launch is a significant step towards achieving greater financial integration and interoperability in the UEMOA region.
With the introduction of the PI-SPI platform, users in Benin and other UEMOA countries can now send and receive funds from over 170 participants, including banks and payment establishments. The platform's implementation is expected to foster a more connected and efficient financial ecosystem, promoting economic growth and financial inclusion across the region.
Key points
- Mobile money transactions in Benin and UEMOA to go through BCEAO's PI-SPI platform from November 2, 2026.
- Free national transfers up to 8,000 FCFA per day for individuals.
- PI-SPI platform aims to enhance transaction efficiency and accessibility across UEMOA countries.
