{ "jurisdiction_id": "ZM", "jurisdiction": "Zambia", "url": "https://payments.gi/jurisdictions/zambia/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 72, "source_register": 186 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w1a-licensing-authorisation-market-access", "standing_position": "Zambia's payment licensing regime rests on the NPSA 2007, now being replaced by the National Payment System Act 2026 (pending commencement); BoZ is sole licensing/designating authority; foreign PSPs must obtain BoZ licensing regardless of physical presence; foreign banks face a $100m capital bar vs $20m for domestic banks.", "findings": [ { "finding": null, "instrument_type": "primary_statute", "source": "https://www.boz.zm/national-payment-systems-act.htm", "source_url": "https://zambialii.org/akn/zm/act/2026/5/eng@2026-04-08", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute_pending", "source": "https://zambialii.org/akn/zm/act/2026/5/eng@2026-04-08", "source_url": "https://www.state.gov/reports/2025-investment-climate-statements/zambia", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.afriwise.com/blog/regulation-of-fintech-in-zambia---a-legal-guide", "source_url": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory_guidance", "source": "https://www.boz.zm/sites/default/files/2026-04/Requirements%20for%20Designation%20of%20Payment%20System.pdf", "source_url": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "market_licensing_event", "source": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_url": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "capital_threshold", "source": "https://www.state.gov/reports/2025-investment-climate-statements/zambia", "source_url": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_tier": "1", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Conduct/safeguarding rules sit in BoZ directives under BFSA s.167 and NPSA-derived e-money directives, supplemented by a weak voluntary Bankers Association Code; BoZ consumer-protection capacity remains thin.", "findings": [ { "finding": null, "instrument_type": "directive", "source": "https://www.boz.zm/financial-stability/bank-charges", "source_url": "https://www.zambiamonitor.com/bank-of-zambia-cracks-down-on-unwarranted-charges-for-electronic-money-services/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "directive", "source": "https://www.zambiamonitor.com/bank-of-zambia-cracks-down-on-unwarranted-charges-for-electronic-money-services/", "source_url": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "directive", "source": "https://www.boz.zm/BankofZambiaCustomerComplaintsHandlingandResolutionDirectives1.pdf", "source_url": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "diagnostic_review", "source": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_url": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "directive", "source": "https://epar.evans.uw.edu/wp-content/uploads/2024/08/EPAR_UW_324_DFS-Consumer-Protection_3.31.16.pdf", "source_url": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_tier": "2", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w2-stablecoins-digital-money", "standing_position": "No stablecoin-specific statute; crypto not legal tender; BoZ CBDC plan runs 2024-2026 including a pilot; Currency Directives 2025 reaffirm Kwacha as sole legal tender.", "findings": [ { "finding": null, "instrument_type": "statutory_position", "source": "https://www.boz.zm/faq.htm", "source_url": "https://cbdctracker.hrf.org/currency/zambia", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "directive", "source": "https://www.boz.zm/directives.htm", "source_url": "https://www.boz.zm/faq.htm", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "supervisory_guidance", "source": "https://fic.gov.zm/component/attachments/download/125", "source_url": "https://www.boz.zm/Directive202307ElectronicMoneyIssuance2023.pdf", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "policy_plan", "source": "https://cbdctracker.hrf.org/currency/zambia", "source_url": "https://www.boz.zm/Directive202307ElectronicMoneyIssuance2023.pdf", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "directive", "source": "https://www.boz.zm/Explanatory-Notes-on-the-Currency-Directives-2025.pdf", "source_url": "https://www.boz.zm/Directive202307ElectronicMoneyIssuance2023.pdf", "source_tier": "1", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w3-operational-resilience-critical-infrastructure", "standing_position": "Operational resilience now sits substantially under the Cyber Security Act 2025 and Cyber Crimes Act 2025, designating payment gateways/core banking as critical infrastructure with registration, localisation, audit and incident-reporting duties.", "findings": [ { "finding": null, "instrument_type": "primary_statute", "source": "https://zambialii.org/akn/zm/act/2025/3/eng@2025-04-15", "source_url": "https://zambialii.org/akn/zm/act/2025/3/eng@2025-04-15", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory_analysis", "source": "https://bowmanslaw.com/insights/zambia-new-laws-to-strengthen-cybersecurity-and-cybercrime-capacities/", "source_url": "https://en.wikipedia.org/wiki/Bank_of_Zambia", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "data_localisation_requirement", "source": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.icnl.org/wp-content/uploads/Zambia-Five-Things-Cyber-Security-Act-2025-final.pdf", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "incident_history", "source": "https://en.wikipedia.org/wiki/Bank_of_Zambia", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "incident_response", "source": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w4-scheme-network-compliance", "standing_position": "Domestic switch/directive framework governs ATM/POS/mobile transactions; ZIPSS modernised to ISO 20022 in 2023; international scheme compliance runs via global Visa/Mastercard rulebooks absent a bespoke domestic interchange statute.", "findings": [ { "finding": null, "instrument_type": "directive", "source": "https://www.boz.zm/directives.htm", "source_url": "https://www.paymentcomponents.com/all-about-payments-in-africa/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "technical_standard", "source": "https://www.paymentcomponents.com/all-about-payments-in-africa/", "source_url": "http://article.sapub.org/10.5923.j.rjbt.20240101.01.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "scheme_compliance", "source": "http://article.sapub.org/10.5923.j.rjbt.20240101.01.html", "source_url": "http://article.sapub.org/10.5923.j.rjbt.20240101.01.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://blog.miden.co/card-issuing-in-zambia", "source_url": "http://article.sapub.org/10.5923.j.rjbt.20240101.01.html", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w5-payment-corridor-dynamics", "standing_position": "Principal cross-border rails are SADC-RTGS, COMESA REPSS, PAPSS and SADC TCIB; MNOs are opening new direct international mobile-money corridors.", "findings": [ { "finding": null, "instrument_type": "regional_settlement_system", "source": "https://www.boz.zm/regional-payment-systems", "source_url": "https://www.boz.zm/regional-payment-systems.htm", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regional_settlement_system", "source": "https://www.boz.zm/regional-payment-systems.htm", "source_url": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regional_settlement_system", "source": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regional_instant_scheme", "source": "https://www.paymentcomponents.com/all-about-payments-in-africa/", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "product_launch", "source": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_licensing_event", "source": "https://blog.useaccrue.com/the-future-of-cross-african-payments-opportunities-and-regulatory-pinch-points/", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w6-industry-structure-commercial-dynamics", "standing_position": "Oligopolistic mobile/telecom market layered on a concentrated 19-bank sector; ~50-69 active fintechs; Airtel Zambia crossed $1bn market cap June 2026.", "findings": [ { "finding": null, "instrument_type": "market_structure", "source": "https://www.mordorintelligence.com/industry-reports/zambia-telecom-mno-market", "source_url": "https://www.mordorintelligence.com/industry-reports/zambia-telecom-mno-market", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_milestone", "source": "https://innovation-village.com/airtel-zambia-crosses-the-1-billion-market-capitalisation-mark-powered-by-data-and-mobile-money/", "source_url": "https://innovation-village.com/airtel-zambia-crosses-the-1-billion-market-capitalisation-mark-powered-by-data-and-mobile-money/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://www.zambiainvest.com/finance/banking/", "source_url": "https://www.fintechfutures.com/keyword/zambia", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://fintechnews.africa/46245/fintechzambia/fintech-in-zambia-2026-market-overview/", "source_url": "https://www.fintechfutures.com/keyword/zambia", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure_shift", "source": "https://www.fintechfutures.com/keyword/zambia", "source_url": "https://www.fintechfutures.com/keyword/zambia", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w7-legal-litigation", "standing_position": "Payments-legal infrastructure defined by BoZ Act 2022 penalty powers rather than developed litigation; parliamentary scrutiny flagged NPS Bill 2025/Corporate Insolvency Act overlap; civil society criticised Cyber Security Agency oversight.", "findings": [ { "finding": null, "instrument_type": "enforcement_power", "source": "https://zambialii.org/akn/zm/act/2022/5", "source_url": "https://www.parliament.gov.zm/sites/default/files/documents/committee_reports/REPORT%20OF%20THE%20COMMITTEE%20ON%20NATIONAL%20ECONOMY,%20TRADE%20AND%20LABOUR%20MATTERS%20ON%20THE%20NATIONAL%20PAYMENT%20SYSTEM%20BILL,%20N.A.B%20NO.%2032%200F%202025%20FOR%20THE%205TH%20SESSION%20OF%20THE%2013TH%20NATIONAL%20ASSEMBLY.pdf", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement_structure", "source": "https://www.mondaq.com/government-public-sector/1373122/anti-money-laundering-comparative-guide", "source_url": "https://www.mondaq.com/government-public-sector/1373122/anti-money-laundering-comparative-guide", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "legislative_scrutiny", "source": "https://www.parliament.gov.zm/sites/default/files/documents/committee_reports/REPORT%20OF%20THE%20COMMITTEE%20ON%20NATIONAL%20ECONOMY,%20TRADE%20AND%20LABOUR%20MATTERS%20ON%20THE%20NATIONAL%20PAYMENT%20SYSTEM%20BILL,%20N.A.B%20NO.%2032%200F%202025%20FOR%20THE%205TH%20SESSION%20OF%20THE%2013TH%20NATIONAL%20ASSEMBLY.pdf", "source_url": "https://globalnetworkinitiative.org/gni-statement-on-zambias-new-cyber-laws-a-blow-to-freedom-of-expression-and-privacy/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement_history", "source": "https://payatlas.com/regulator/boz-4606", "source_url": "https://globalnetworkinitiative.org/gni-statement-on-zambias-new-cyber-laws-a-blow-to-freedom-of-expression-and-privacy/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "civil_society_legal_challenge", "source": "https://globalnetworkinitiative.org/gni-statement-on-zambias-new-cyber-laws-a-blow-to-freedom-of-expression-and-privacy/", "source_url": "https://globalnetworkinitiative.org/gni-statement-on-zambias-new-cyber-laws-a-blow-to-freedom-of-expression-and-privacy/", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w8-merchant-acquiring-risk", "standing_position": "Card acquiring/issuing restricted to BoZ-licensed banks; fintechs access rails via BIN-sponsorship; POS share of card transactions growing; acceptance concentrated in urban/tourist centres.", "findings": [ { "finding": null, "instrument_type": "market_structure", "source": "https://blog.miden.co/card-issuing-in-zambia", "source_url": "https://blog.miden.co/card-issuing-in-zambia", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "scheme_compliance", "source": "https://visa.co.za/partner-with-us/pci-dss-compliance-information.html", "source_url": "https://www.transfi.com/blog/popular-local-payment-methods-and-solutions-in-zambia", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_data", "source": "https://www.transfi.com/blog/popular-local-payment-methods-and-solutions-in-zambia", "source_url": "https://www.transfi.com/blog/popular-local-payment-methods-and-solutions-in-zambia", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "acceptance_geography", "source": "https://www.safari-memories.com/en/destinations/zambia/explore/introduction-to-currency-and-payment-methods-in-zambia", "source_url": "https://www.transfi.com/blog/popular-local-payment-methods-and-solutions-in-zambia", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w9-product-innovation-market-development", "standing_position": "Innovation architecture rests on BoZ Regulatory Sandbox (2021) and SEC sandbox, NFIS interoperability push, BoZ CBDC plan, and product launches from MTN, Airtel Money, Union54 and Lupiya.", "findings": [ { "finding": null, "instrument_type": "regulatory_sandbox", "source": "https://www.boz.zm/directives.htm", "source_url": "https://www.boz.zm/directives.htm", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory_sandbox", "source": "https://www.afriwise.com/blog/regulation-of-fintech-in-zambia---a-legal-guide", "source_url": "https://www.startupblink.com/top-startups/zambia", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "financial_inclusion_strategy", "source": "https://fintechnews.africa/46245/fintechzambia/fintech-in-zambia-2026-market-overview/", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "policy_plan", "source": "https://cbdctracker.hrf.org/currency/zambia", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "product_launch", "source": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "product_innovation", "source": "https://www.startupblink.com/top-startups/zambia", "source_url": "https://developingtelecoms.com/telecom-technology/financial-services/19699-two-zambian-operators-announce-mobile-money-initiatives.html", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w10-consumer-protection-app-fraud", "standing_position": "Consumer protection runs through BoZ unwarranted-charges/complaints directives, backstopped by a weak voluntary code and underused CCPC/Small Claims routes; APP-style fraud risk politically salient but with no dedicated reimbursement regime.", "findings": [ { "finding": null, "instrument_type": "directive", "source": "https://www.boz.zm/financial-stability/bank-charges", "source_url": "https://www.boz.zm/faq.htm", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "complaint_route", "source": "https://www.boz.zm/faq.htm", "source_url": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "diagnostic_review", "source": "https://responsiblefinance.worldbank.org/content/dam/documents/responsible-finance/Zambia-Diagnostic-Review-V-II.pdf", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "complaint_route", "source": "https://www.fnbzambia.co.zm/contact-us/ComplimentsAndComplaints.html", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "fraud_trend", "source": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_url": "https://mpelembe.net/index.php/securing-the-cyberspace-the-impact-of-zambias-2025-cyber-laws-on-security-and-civil-liberties/", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/zambia/#w11-aml-cft-financial-crime", "standing_position": "AML/CFT posture carried via the FIC-centred framework, PPMLA, Anti-Terrorism/Proliferation legislation and BoZ 2017 AML/CFT/PF Directives; 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