A new version of the Automated System of Interbank Payments (SAPI) has been launched in Moldova.
This was announced by the National Bank of Moldova, noting that this will help increase the speed and security of transfers. The upgrade of the system included software and hardware SAPI components, logical separation of the real-time gross settlement system (RTGS system - designed for processing urgent payments and payments for large amounts), as well as the clearing system with the settlement of net positions (CDN clearing system - designed for processing payments for small amounts). In addition, a new ability to manage liquidity limits has been created for participants, more advanced migration of payment messages (ISO 20022), and the hardware platform has been replaced. These changes will provide the expected improvement in system performance. According to the National Bank, the new SAPI functions provide a higher degree of automation of the entire chain of payments - from their initiation by the payer to the receipt of funds by the recipient. The benefits of modernization should be felt and appreciated by the users of payment services in Moldovan lei - individuals and legal entities. According to the Concept for the Development of the Payments Sphere in Moldova, the modernization of SAPI is the first stage of actions to be taken by the NBM, followed by the second stage - the introduction of an instant payment system at the national level. The projects are focused on the development of the payment sector in Moldova. They are aimed at promoting the modernization of payment services and providing the financial community with a payment system that includes both high-performance infrastructure and modern payment instruments that meet the needs of consumers. SAPI was introduced in 2006 and is managed and operated by the NBM. In 2021, 13.8 million transactions worth 1,083 billion lei were processed through SAPI, an increase in both quantity (+9.8%) and value (+0.7%) compared to 2020. Average daily volume transactions in SAPI amounted to 54.6 thousand transactions for 4.3 billion lei. In 2021, the average system availability for participants was 99.9%, which indicates the high throughput of SAPI, without failures or incidents during the operation of the program. // 23.05.2022 — InfoMarket
