21 February 2019 – Promotion of electronic payments and reduction of cash in the economy were suggested as important measures to reduce informal economy and phenomenon of grey salaries. The share of cash payments is very high in Moldova and electronic payments mush less popular compared to other countries as they are very costly and inconvenient. Following ECS recommendation, this topic was discussed in EC and numerous recommendations collected. Economic Council Secretariat is planning to explore during 2019-2021 the following important measures:

– negotiation of lower charges from providers of electronic payments services (Visa, Mastercard, etc.);

– regulation of inter-banking charges;

– adoption of tax incentives for electronic payments;

– development of national electronic payments systems;

– facilitation of private alternative solutions of electronic payments;

– discouraging cash payments;

– other relevant measures.

https://www.facebook.com/ConsiliulEconomic/videos/961751680833187/

The VISA team has called for a meeting with experts from the Economic Council Secretariat after learning that the Economic Council is studying the issue of electronic payments. The purpose of the meeting was to ensure that correct decisions are made in the future in this area. Following this session, it was decided to jointly discuss the issue in the future.

The Secretariat of the Economic Council to the Prime Minister is  supported  by  the  European  Bank  for  Reconstruction  and  Development, funded by the UK Government’s Good Governance Fund, and the World Bank Group project “Investment Climate Reform”, funded by the Sweden.

The Secretariat of the Economic Council to the Prime Minister is supported by the European Bank for Reconstruction and Development, funded by the UK Government’s Good Governance Fund.