# Seychelles — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/SC
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **CBS** payment modernization plan
- **SEFT** electronic funds transfer
- **QR experiments** by startups/banks
- **Cheque sunset** Sept 2024 approved
- **Mobile wallets** growing adoption

## Banking landscape

### Central Bank
- **Name:** Central Bank of Seychelles (CBS)
- **Website:** https://www.cbs.sc/
- **Role:** Monetary policy, payment modernization

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Seychelles Commercial Bank | State | SCB Mobile |
| 2 | Nouvobanq | Local | Nouvo App |
| 3 | MCB Seychelles | Regional | MCB Mobile |
| 4 | Barclays/Absa | International | Absa App |
| 5 | Bank of Baroda | International | BoB Mobile |

### Market Structure
- **CBS:** Modernization leader
- **SEFT:** Electronic funds
- **QR developing:** Experiments
- **Cash reduction:** Priority

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| SEFT | CBS | EFT | Active |
| Mobile Wallets | Airtel/C&W | Wallets | Active |
| Bank Cards | Visa/MC | Cards | Active |
| QR Payments | Various | Emerging | Developing |

### SEFT System
- Seychelles Electronic Funds Transfer
- Connects all major banks
- Near-instant retail payments
- Business hours operation

### CBS Modernization Plan
- Digital payment promotion
- Cheque discontinuation
- Innovation encouragement
- Cash reduction goal

---

## QR code standards

### Emerging QR Ecosystem

| Attribute | Value |
|-----------|-------|
| **Status** | Developing |
| **Players** | Startups, banks |
| **Apps** | QR-based solutions |
| **CBS** | Open banking hints |

### QR Payment Progress
- Startups experimenting
- Banks piloting
- Merchant apps
- APIs developing
- Government payments accept QR

### Government QR Payments
- Digital products accepted
- Internet banking
- Mobile banking apps
- QR code payments
- Service provider dependent

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Airtel Money | Airtel | Yes | Full wallet |
| AirtelPay-style | C&W | Yes | Mobile money |
| Bank Apps | Various | Limited | Banking |

### Mobile Wallet Features
- Send/receive money instantly
- Top up airtime
- Pay bills
- Shop with QR codes
- Youth/trader adoption

### Adoption Trends
- Strong youth growth
- Small traders
- Informal businesses
- Unbanked bridge
- Formal banking link

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [SEFT](https://docs.barcoder.ai/docs/payments/SC/seft) | EFT | Interbank | Active | — |
| [Mobile Wallets](https://docs.barcoder.ai/docs/payments/SC/mobile-wallets) | QR | Apps | Growing | — |
| [Gov Payments](https://docs.barcoder.ai/docs/payments/SC/gov-payments) | QR | Digital | Active | — |

## Sources

- [CBS - Financial Inclusion](https://www.cbs.sc/Financial/FAQ.html)
- [CBS Official](https://www.cbs.sc/)
- [TransFi - Seychelles Payment Rails](https://www.transfi.com/blog/seychelles-payment-rails-how-they-work---instant-transfers-cards-mobile-wallet-adoption)
- [TransFi - Seychelles Payment Methods](https://www.transfi.com/blog/top-local-payment-methods-and-solutions-in-seychelles)
- [MoneyMatrix - Seychelles](https://moneymatrix.com/country/seychelles/)
- [Seychelles EFT](https://seychelleseft.sc/)
- [Holidify - Currency Seychelles](https://www.holidify.com/pages/currency-exchange-in-seychelles-785.html)
- SWIFT Code Lookups for CBS

## Full country report

[SC-seychelles.md](https://docs.barcoder.ai/docs/payments/SC)