• Central bank introduces BurundiPay for real-time, 24/7 transactions

• Platform connects banks, microfinance institutions, and mobile wallets

• System aims to reduce cash use and widen financial inclusion

Burundi’s central bank has launched “BurundiPay,” a new instant payment system designed to modernize financial transactions across the country. The platform was unveiled on April 23 in Bujumbura by the Bank of the Republic of Burundi (BRB).

The system enables users to send money and make payments in real time, 24 hours a day, seven days a week, using either bank accounts or mobile wallets. It is intended to streamline transactions, expand financial inclusion, and reduce reliance on cash.

A key feature of BurundiPay is full interoperability. Commercial banks, microfinance institutions, and payment providers are now connected within a single network, allowing users to transfer funds seamlessly across institutions. This eliminates previous constraints, such as the need to withdraw cash before moving money between different providers.

The platform is built on international standards, including ISO 20022, ensuring strong security and compatibility with global financial systems. It also integrates with Burundi’s existing infrastructure, such as the real-time gross settlement (RTGS) system and the automated clearing house, strengthening the country’s overall payments framework.

Accessibility is central to the system’s design. With internet penetration at around 30%, according to official data, BurundiPay works on both smartphones and basic mobile phones through USSD codes. This approach is aimed at extending financial services to underserved populations, particularly in rural areas.

Supported by the World Bank through the Digital Economy Foundations Support Project (PAFEN), the initiative makes Burundi the 22nd African country to adopt an instant payment system. The move aligns with a broader continental trend toward digital financial services as a driver of economic transformation.

The success of BurundiPay will depend on adoption by both financial institutions and users. If widely embraced, it could accelerate financial integration, support the growth of digital commerce, and improve transparency in economic transactions—key factors in advancing the country’s development goals.

Samira Njoya