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Paytek selected for the first edition of the regulatory SandBox

Paytek is one of the 5 Fintechs selected to participate in the first class of the regulatory SandBox created by the Bank of Mozambique and with the support of FSDmoç. The purpose of our presence is to collaborate with the central bank in the creation of specific regulations for application to new financial companies defined as Payment Service Providers and Payment Subsystem Operators as well as Fintechs and Digital Payment Service Aggregators in general.

Paytek is developing a set of new digital financial services and their implementation in a pilot to be carried out at the end of the period of permanence in the SandBox. The pilot will be supervised by the Bank of Mozambique, analyzing the relevance of the service to the development of the National financial system, in particular its contribution to financial inclusion in its various aspects. The existing risks and constraints, both operational and regulatory, will also be observed, and conditions created for their mitigation so that these entities can launch the services into production after their stay in the SandBox.