Introduction:
Mobile money has transformed payments in Zambia, but businesses must comply with regulations
to avoid penalties.
Key Points:
Licensing: Businesses offering mobile money services must be licensed by the Bank of
Zambia.
AML/CFT Compliance: Follow Anti-Money Laundering (AML) and Combating the Financing of
Terrorism (CFT) guidelines.
Consumer Protection: Ensure clear transaction records, privacy of customer data, and
transparent charges.
Penalties: Non-compliance may result in fines, license revocation, or legal action.
Conclusion:
Businesses must stay informed on mobile money regulations.
