# Zambia — payment codes and schemes

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

## Summary

- **NFS** National Financial Switch (2018/2019)
- **ZIPSS** ISO 20022 upgrade (Oct 2023)
- **QR code system** planned enhancement
- **11.2M** mobile money subscribers
- **Mojaloop** QR merchant pilots (2024)

## Banking landscape

### Central Bank
- **Name:** Bank of Zambia (BoZ)
- **Website:** https://www.boz.zm/
- **Role:** Monetary policy, NPS oversight

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Zanaco | Local | Zanaco Xpress |
| 2 | Stanbic Bank | Regional | Stanbic App |
| 3 | Standard Chartered | International | SC Mobile |
| 4 | FNB Zambia | Regional | FNB App |
| 5 | Absa Zambia | Regional | Absa App |

### Market Structure
- **Zamtel:** Mobile money provider
- **MTN Zambia:** Major MNO
- **Airtel Zambia:** Mobile money
- **60%+ unbanked:** Inclusion focus

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| ZIPSS | Bank of Zambia | RTGS | ISO 20022 (Oct 2023) |
| NFS | ZECHL | Switch | Active (2018) |
| ZECHL | Industry | Clearing | Active |
| CSD | BoZ/LuSE | Securities | Active |

### National Financial Switch (NFS)
- Born 2013 by ZECHL, BoZ, BAZ
- Phase 1: ATM/POS switching (VISA to NFS)
- Phase 2: Mobile payments switching
- 25 million transactions (110.5% growth)

### ZIPSS Upgrade (October 2023)
- ISO 20022 messaging standard
- Y-Copy to V-Mode topology
- API integration simplified
- Interoperability promoted

---

## QR code standards

### QR Code System (Planned)

| Attribute | Value |
|-----------|-------|
| **Status** | Future enhancement |
| **Platform** | NFS-based |
| **Features** | eKYC integration |
| **Timeline** | In development |

### Planned QR Features
- Mobile phone number linking
- Bank Identification Numbers (BIN)
- Centralized eKYC platform
- Secure user identification
- Streamlined onboarding

### Current QR Initiatives

| Provider | Type | Status |
|----------|------|--------|
| Digital PayGo | Fintech QR | Active |
| Mastercard-Zamtel | Mastercard QR | Active |
| Mojaloop pilots | Merchant QR | 2024 |

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Zamtel Money | Zamtel | Limited | Mobile money |
| MTN MoMo | MTN | Limited | Mobile money |
| Airtel Money | Airtel | Limited | Mobile money |

### Mobile Money Market
- 11.2 million subscribers (2022)
- 13.98% growth from 2021
- Zamtel, MTN, Airtel providers
- 60%+ unbanked population

### Fintech QR Solutions
- Digital PayGo: Merchant mobile payments
- QR code scanning at merchants
- Direct phone payment
- Growing ecosystem

### Mastercard-Zamtel Partnership
- Mastercard QR solution
- Interoperable payments
- Face-to-face transactions
- Merchant identifier system

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [NFS](https://docs.barcoder.ai/docs/payments/ZM/nfs) | Switch | Phase 2 | 25M txns | [`nfs`](https://docs.barcoder.ai/docs/standards/nfs) |
| [ZIPSS](https://docs.barcoder.ai/docs/payments/ZM/zipss) | RTGS | ISO 20022 | Active | [`zipss`](https://docs.barcoder.ai/docs/standards/zipss) |
| [Mastercard QR](https://docs.barcoder.ai/docs/payments/ZM/mastercard-qr) | Partner | QR | Active | — |

## Sources

- [Bank of Zambia - ZIPSS](https://www.boz.zm/zipss.htm)
- [ZECHL - NFS](https://www.zechl.co.zm/national-financial-switch/)
- [PAYZ - Payment Systems](https://payz.co.zm/payment-systems-in-zambia/)
- [Zambian Business Times - NFS](https://zambianbusinesstimes.com/zambias-first-ever-national-financial-switch-unvailed/)
- [Tech Trends - NFS Adoption](https://www.techtrends.co.zm/adoption-of-the-national-financial-switch-nfs-in-zambia/)
- [IBS Intelligence - Mastercard Zamtel](https://ibsintelligence.com/ibsi-news/mastercard-and-zamtel-partner-to-transform-payments-in-zambia/)
- [Mojaloop - Zambia Fintechs](https://mojaloop.io/zambia-fintechs-instant-payment-systems/)
- [IT Web Africa - Mobile Money](https://itweb.africa/content/DZQ58vVP4PbMzXy2)

## Full country report

[ZM-zambia.md](https://docs.barcoder.ai/docs/payments/ZM)