# Somalia — payment codes and schemes

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

## Summary

- **EVC Plus** dominant (67% Somalis use)
- **WAAFI** first mobile money app with QR
- **Tap and Go** contactless (2024)
- **Bank interoperability** launched 2024
- **95% counterfeit** currency drives digital

## Banking landscape

### Central Bank
- **Name:** Central Bank of Somalia (CBS)
- **Website:** https://centralbank.gov.so/
- **Role:** Monetary policy, payment oversight

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Salaam Somali Bank | Local | WAAFI integration |
| 2 | Dahabshiil Bank | Local | Dahabshiil App |
| 3 | Premier Bank | Local | Premier Mobile |
| 4 | Amal Bank | Local | Amal App |
| 5 | IBS Bank | Local | IBS Mobile |

### Market Structure
- **Hormuud:** Telecom leader
- **EVC Plus:** 67% population usage
- **Free at point of use:** No fees
- **37%:** Have mobile accounts

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| EVC Plus | Hormuud | Mobile money | Dominant |
| WAAFI | Hormuud | App + QR | Active |
| Bank Interop | Multiple | Cross-platform | 2024 |
| Tap and Go | Mastercard | Contactless | 2024 |

### EVC Plus History
- Launched 2011 (first in Somalia)
- Digital wallet function
- Goods/services purchase
- Free at point of use
- 67% population coverage

### 2024 Innovations
- WAAFI app with QR
- Bank interoperability
- Tap and Go contactless
- 5G network launched

---

## QR code standards

### WAAFI QR Payments

| Attribute | Value |
|-----------|-------|
| **Launch** | 2024 |
| **Provider** | Hormuud |
| **Feature** | QR code generation |
| **Type** | Merchant + bank |

### WAAFI QR Features
- Business QR code generation
- Direct bank account credit
- Contactless transactions
- EVC Plus wallet access
- Bank deposits/withdrawals

### Merchant QR
- Businesses generate codes
- Customers scan to pay
- Direct digital payments
- No cash required
- Instant processing

### Tap and Go (2024)
- Mastercard partnership
- Paymentology technology
- Salaam Somali Bank
- First contactless in Somalia
- Combined with QR option

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| WAAFI | Hormuud | Yes | Full platform |
| EVC Plus | Hormuud | USSD | Dominant wallet |
| Bank Apps | Various | Limited | Integrated |

### WAAFI Features
- First indigenous mobile money app
- QR code generation
- Bank account access
- EVC Plus integration
- Multi-service platform

### EVC Plus Features
- Digital wallet
- Purchase goods/services
- Money transfer
- Free at point of use
- USSD access

### Bank Interoperability (2024)
- Seamless bank-wallet payments
- First time in Somalia
- Deposits via EVC Plus
- Money transfers enabled
- Basic banking functions

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [EVC Plus](https://docs.barcoder.ai/docs/payments/SO/evc-plus) | Mobile money | USSD/App | 67% | [`evc-plus`](https://docs.barcoder.ai/docs/standards/evc-plus) |
| [WAAFI QR](https://docs.barcoder.ai/docs/payments/SO/waafi-qr) | Mobile QR | App | 2024 | [`waafi-qr`](https://docs.barcoder.ai/docs/standards/waafi-qr) |
| [Tap and Go](https://docs.barcoder.ai/docs/payments/SO/tap-and-go) | Contactless | NFC | 2024 | — |

## Sources

- [Wikipedia - Hormuud Telecom](https://en.wikipedia.org/wiki/Hormuud_Telecom)
- [Developing Telecoms - WAAFI Launch](https://developingtelecoms.com/telecom-technology/financial-services/11013-hormuud-telecom-launches-somalia-s-first-mobile-money-application.html)
- [Connecting Africa - WAAFI Launch](https://www.connectingafrica.com/mobile-money/hormuud-telecom-launches-somalia-s-first-mobile-money-app)
- [Capacity Media - Hormuud Firsts](https://www.capacitymedia.com/article/29otd6mddjpstgg0w188w/news/hormuud-telecom-strikes-another-mobile-money-first-for-somalia)
- [TransFi - Somalia Payment Rails](https://www.transfi.com/blog/somalias-payment-rails-how-they-work---evc-plus-mobile-banking-remittance-integration)
- [Hormuud - EVC Plus](https://hormuud.com/EvcPlus)
- [WorldRemit - Somalia](https://www.worldremit.com/en/somalia/mobile-money)
- [Communications Africa - WAAFI](https://communicationsafrica.com/mobile/hormuud-telecom-launches-somalia-s-first-mobile-money-application)

## Full country report

[SO-somalia.md](https://docs.barcoder.ai/docs/payments/SO)