Figures from the Reserve Bank of Malawi’s (RBM) National Payment Systems (NPS) report show that in September, the volume and value of Digital Financial Services (DFS) transactions rose by 30% in July and and 30.7% in September.

The above represents 130.4 million in July and K2 trillion in September, as RBM attributed the rise to convenience and safety experienced by people when using such platforms compared to cash and other paper-based payment instruments.

On the other hand, apart from cash-in and cash-out transactions, a review of data for the period reveals that mobile money platforms are mostly dominated by business-to-business and airtime top-ups in terms of value and volume of transactions, respectively.