From the start of August to the end of September, the National Bank of Rwanda reported that monthly transactions on its eKash instant payment system rose from 140,000 to 1 million, and their value jumped from about $7 million to around $1.5 billion. The central bank achieved this by requiring all person-to-person transfers to run through eKash and capping fees at 20 francs (under $0.02), while allowing banks and mobile money providers to use aggregated transaction data for alternative credit scoring. Access to credit remains limited, with 92% of people holding bank or mobile money accounts but only 20% having access to credit or microcredit. The country is also piloting eKash integration with Tanzania's TIPS, routes intra-EAC payments through the regional EAC system, and sends transactions outside the EAC through PAPSS.
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