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Gambia

Gamswitch

Scheme name: Gamswitch

IIPS Type: Bank

Instruments: Credit EFT, Debit EFT

Channels: Browser, App, POS, USSD, ATM, Branch

Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Bill payments (P2B/P2G), Fees & taxes (P2G), Inventory & business services (B2B), Salaries & wages (B2P)

Inclusivity level: Basic

Year of establishment: 2020

System owner: Central Bank of Gambia and industry

Overseer: Central Bank of Gambia

Operator: Gamswitch

Total Participants: 12

Volumes 2023: 1,471,000

Values 2023: 65,611,730 USD

Back to mapMore information about this topic
CategoryGamswitch
Geographic reachDomestic
Geographic descriptionGambia
Scheme governanceGamswitch
Settlement agentCentral Bank of Gambia
Participants - commercial banks12
Participants - MMOs0
Participants - non-bank PSPs0
Participants - MFIs0
Volumes 201958,000
Volumes 2020185,000
Volumes 2021489,000
US$ Exchange Rate 30 April67.7905
Values 20191,690,311 USD
Values 20207,349,171 USD
Values 202119,932,675 USD
Values 202241,526,409 USD
Values 2023 not-on-us transactions (US$)65,611,730 USD
Values 2023 on-us transactions (US$)N/A
Total value of instant payment transactions 2023 (US$)65,611,730 USD
Interoperability arrangementPayment system operator
Ownership modelJointly owned
Governance TypologyPPP
Scheme rules shared or publically available?No
Messaging standardISO 20022;ISO 8583;API
Types of proxy IDsQR code
Use of open APIsYes
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use casesNo
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo
StatusReached basic level, almost at progressed level
Strengths/driversFulfillment of basic criteria as well as already fulfilling 2 out of 3 progressed criteria means there is great potential to achieve progressed level.
Areas of developmentTo reach progressed level, the system can strive to expand the participation to non-banks to enable cross-domain transactions .

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