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Expression of Interest for Individual Consultants to Support Eac Payments Systems Masterplan Implementation Location: Kigali Deadline: Wednesday, 18/03/2026 17:00 REQUEST FOR EXPRESSIONS OF INTEREST FROM INDIVIDUAL CONSULTANTS TO SUPPORT EAC PAYMENTS SYSTEMS MASTERPLAN IMPLEMENTATION. 1. About FSD Network The Financial Sector Deepening (FSD) Network is a family of ten locally established Financial Sector Deepening (FSD) programs building diverse and inclusive financial systems across Africa that enhance financial resilience and sustainable livelihoods for all and enable inclusive economic growth. We believe that financial systems have the potential to play a major role in enabling inclusive growth and ensuring access to basic goods and services while assuring a sustainable future for low-income people. We are deeply committed to equity between men and women and supporting the vulnerable and marginalized, including refugees and people living with disability. We have a national FSD presence in four East African Community (EAC) countries (Kenya, Uganda, Tanzania and Rwanda) with nearly two decades of experience in advancing inclusive financial ecosystems and fostering inclusive economic growth. DRC and Somalia are exploring establishing an FSD, with Burundi and South Sudan currently the only EAC partner States with no FSD (current or planned). Guided by the imperatives of the United Nations Sustainable Development Goals, the FSD Network seeks to mold sustainable financial systems, enabling them to work more inclusively across Africa. 2. About Access to Finance Rwanda Access to Finance Rwanda (AFR) is a Rwandan not for profit company established in 2010 to promote financial inclusion and financial sector development. AFR is currently funded by Sweden, Jersey Overseas Aid, MasterCard Foundation, Co-Develop, and Gates Foundation. AFR is part of the broader Financial Sector Deepening (FSD) network in Africa that seeks to create a transformative impact on ending poverty by supporting efforts to improve financial inclusion and financial sector development through helping policy makers, regulators, financial service providers and markets drive a more inclusive and sustainable economic growth. AFR supports the removal of systemic barriers that hinder access to and use of financial services by low-income people, particularly the rural poor, women, youth and MSMEs, and supports the development and provision of financial services including savings, credit, insurance, investment, payments, and remittances. AFR is guided by the Market System Development (MSD) approach recognizing that efforts to increase financial inclusion and financial sector development must be market led, profitable and sustainable and with support from the Gates Foundation. On behalf of FSD Network, AFR seeks Consultants to support EAC Payments System Masterplan Implementation. 3. About EAC Payment System Masterplan The EAC Cross-Border Payment System Masterplan (Masterplan) provides a strategic framework to enhance the efficiency, security, and accessibility of cross-border payments within the EAC Region over the next five years. Developed through extensive consultation with central banks, financial institutions, policymakers and development partners, the Masterplan outlines a structured approach to modernizing and integrating East African payment systems to support regional economic growth and financial inclusion. The Masterplan presents twenty (20) strategic initiatives across four key pillars aimed at improving efficiency, security, accessibility, and transparency of cross-border payments in the region. It aligns with the objectives of East African Monetary Union and tackles existing challenges in the regional payment ecosystem. Vision and Mission The Masterplan envisions a payments ecosystem that fosters economic integration and sustainable growth across the EAC. Its mission is to implement an inclusive, secure, efficient and interoperable cross-border payments ecosystem to support the objectives of the EAC Monetary Union. The implementation of this project is at a critical stage of kicking off various activities ensuring coordination from all member state countries. The qualified consultants will provide expert services to the EAC Secretariat and Payment Sub Committee during the planning phase of the grant, ensuring strategic alignment and regional buy in for long term success of the Masterplan Implementation. The Masterplan is structured around four key pillars. Governance, Legal, Regulatory and Oversight: Harmonizing frameworks to reduce friction and enhance compliance. Infrastructure: Modernizing payment systems (East Africa Payments System - EAPS, instant retail switch) for faster, cost-effective transactions. Inclusivity: Ensuring equitable access for individuals and businesses across all East Africa Community (EAC) partner States. Capacity Building: Developing technical expertise at EAC secretariat and across EAC partner states. 4. Scope of Work Access to Finance Rwanda is seeking individual Consultants with expertise in the following domains, aligned with the Masterplan objectives: A. Policy and Regulatory Harmonization Experts (Pillar 1) Mutual Recognition Frameworks: Support the development frameworks for cross-border Payment Service Provider (PSP) licensing and mutual recognition to facilitate market entry for member states. Regulatory Alignment: Support the development of harmonizing regulations for mobile money /e-wallets and establishing a regional oversight framework for Cross-Border Payment system. Standards Development: Support development of common standards for AML/CFT/CPF and dispute resolution for Bank and non-bank Payment service providers (PSPs) for Cross-Border Payment Systems. Currency Convertibility:Support the development of cross border protocols for currency acceptability and convertibility to manage multiple settlement currencies and ensure transparent Foreign Exchange (FX) pricing on Cross-Border Payment System. QR Code Standardization: Support the development of regional QR code standard to ensure interoperability across applications and partner states including aligned authentication and risk management protocols. Proxy Identifier Framework: Support the development of standards for proxy identifiers (Aliases) (e.g., using mobile numbers instead of account numbers), including but not limited to validation and verification protocols to prevent fraud. B. Payment Infrastructure Experts (Pillar 2) Cost: Support the review of technical design and cost estimates for the Masterplan implementation. EAPS Modernization: Provide technical guidance on upgrading the East African Payment System (EAPS), including potential onboarding of hard currencies and centralized clearing models. Instant Retail Switch Design: Support the design and implementation of a regional instant retail payment switch based on Digital Public Infrastructure (DPI) principles. Centralized Clearing Design: Provide technical guidance on designing centralized clearing and settlement model with the aim of simplifying settlement. Hybrid Integration Model Design: Support the development of a hybrid integration model that connects existing national Fast Payment Systems (FPS) and Open API standards for secure cross-border interoperability with the aim of reducing technical integration friction. Interoperability Standards: Support the development of ISO20022 technical implementation guidelines, mapping data fields to ensure consistent payment instructions and Straight Through Processing (STP) across all Partner States. Cross-Border Security Architecture: Support the design of standardized security framework to address threats, defining technical standards for real-time fraud detection, account verification, and transaction monitoring. C. Inclusion (Pillar 3) Consumer Protection and Experience Design Protection Framework Development: Support the development of regional consumer protection framework defining minimum standards for transparency, liability, fraud redress, and dispute resolution. Consumer Experience (CX) and UX Experience Guidelines: Support the development of Consumer experience (CX) and UX Experienceguidelines that provide standardized disclosures for fees and transaction times while maintaining minimum interface design standards. D. Monitoring and Evaluation - M&E (Pillar 4) M&E Framework Development: Design and operationalize a comprehensive Monitoring and Evaluation framework to track the implementation of the Masterplan, including defining specific Key Performance Indicators (KPIs) for speed, cost, access, and transparency. Methodology Development: Support the development of structured methodology for data collection, analysis, and reporting to ensure Partner States track progress consistently and produce comparable data. Benchmarking: Develop regional KPIs with global benchmarks while incorporating specific regional priorities to ensure cross-border payments system remains competitive and compliant with international standards. Dashboard Implementation: Lead the design and implementation of a regional dashboard / reporting system to provide regulators and partners with real-time insights into the cross-border payment system implementation performance. Review Process: Develop structured review process that enables stakeholders to assess trends, identify bottlenecks in the cross-border payments ecosystem, and implement evidence based corrective actions. 5. Deliverables Individual Consultants will be responsible for specific deliverables based on their area of expertise. To ensure practical implementation, all deliverables must be structured into clear Short Term (06 months), Medium-Term (6-18 Months), and Long-Term phases, explicitly accounting for the varying levels of readiness across Partner States. The deliverables may include: Tender Link : https://www.jobinrwanda.com/index.php/job/request-expressions-interest-individual-consultants-support-eac-payments-systems-masterplan
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