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Banking and Insurance

BNA provides real time payment system to INSS for pension payments

The National Bank of Angola (BNA) will provide means and channels of payment in real time to the National Institute of Social Security (INSS). The measure will be made official this Wednesday, with the signing of a technical and operational partnership agreement within the pension payment system.

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With this agreement, the BNA intends to "establish the conditions for the provision and availability of channels and means of automatic payment" to the INSS. This provision will allow the institute to pay pensioners directly, avoiding agglomerations of pensioners, at the end of each month, at bank branches.

"This partnership will make it possible for the INSS to participate in the Real Time Payment System (SPTR), under the management of the BNA, and the Credit Transfer System, under the management of EMIS, thus guaranteeing all the technical conditions for that Institute to make payments directly to retirees," explained the bank in a statement published on its website.

The active participation of the INSS is expected to "contribute to significantly reducing the number of pensioners who, at the end of each month, go to some bank branches, resulting in gatherings".

The BNA considers that this agreement reinforces its commitment to "continue to guarantee banking consumers modern payment instruments that are conducive to greater efficiency and comfort in carrying out financial transactions".

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