Liberia: CBL Caps Fees On Interoperable Mobile Money Transfers Under New Instant Payments System

-- The Central Bank of Liberia (CBL) has approved a unified fee structure governing interoperable mobile money transfers between Lonestar Cell MTN Mobile Money Inc. and Orange Money Liberia under the country's newly launched Inclusive Instant Payments System (IIPS), a move aimed at lowering costs and expanding access to digital financial services.

The fee framework follows the Dec. 16 launch of IIPS in Monrovia and applies specifically to person-to-person (P2P) transfers conducted across mobile money platforms. The central bank said the standardized charges are designed to promote affordability, transparency and interoperability while supporting round-the-clock availability of the national payments platform.

Under the approved structure, fees are capped at two tiers. For interoperable P2P transfers ranging from $1 to $2,000, or the Liberian dollar equivalent, charges must not exceed 1 percent of the transaction value. Transfers above $2,000 will attract a flat fee capped at $25, or the Liberian dollar equivalent, per transaction.

The CBL described the caps as maximum allowable charges, signaling that providers may set lower fees but may not exceed the approved limits for transactions processed through IIPS.

By introducing a single, unified fee across platforms, the central bank said it aims to remove cost barriers that have historically discouraged cross-network transfers, a key constraint in Liberia's mobile money ecosystem. Interoperability allows customers on different networks to send money instantly to one another, reducing friction and increasing competition among service providers.

The CBL said it will continue to monitor implementation of the fee structure to ensure compliance, consumer protection and the orderly development of Liberia's digital payments system.

Liberia has been accelerating reforms in digital finance as mobile money becomes a primary channel for payments, remittances and everyday transactions. Officials view IIPS as a cornerstone of that strategy, positioning the country to broaden financial inclusion while strengthening oversight of a rapidly growing sector.

Read the original article on Liberian Investigator.