Sibs launches payment system in São Tomé and Príncipe
SIBS actively pursues its contribution to the digitization of payments on a global scale with the development and operationalization of a new payment platform on the African continent, supporting the national payment system of São Tomé and Príncipe.
The platform will be managed by the national interbank company (SPAUT), with the support of the country’s central bank. As a leader in electronic payments, SIBS will contribute with the technological capacity and know-how of the platform, increased levels of performance, resilience and security, and accelerate innovation and digitization in the market.
SIBS was selected to develop and advance São Tomé’s payment system by the country’s Central Bank and SPAUT. The company’s platform currently enables interbank and omnichannel processing in an integrated, multi-payment system, processing all transactions made at local ATMs and point-of-sale (POS) terminals nationwide. This ensures the connection and processing of international systems, such as Visa and Mastercard, in addition to processing of the domestic payment system, Dobra24. SIBS should also play a decisive role in the issuance and personalization of bank cards on the market.
The SIBS platform will allow the introduction of new payment services such as mobile phone recharging, payment of taxes and payment for services, especially water and electricity bills, which are expected to be an important factor. in the modernization and digitization of the country. The system will continue to support the main functionalities available at Rede Dobra24 ATMs (withdrawals, PIN code changes, balance requests, NIB requests, account movements and transfers).