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Gambia
Gamswitch
Scheme name: Gamswitch
IIPS Type: Bank
Instruments: Credit EFT, Debit EFT, Card
Channels: Branch, USSD, App, Browser, POS, ATM, QR
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 map| Category | Gamswitch |
|---|---|
| Geographic reach | Domestic |
| Geographic description | Gambia |
| Scheme governance | Gamswitch |
| Settlement agent | Central Bank of Gambia |
| Participants - commercial banks | 12 |
| Participants - MMOs | 0 |
| Participants - non-bank PSPs | 0 |
| Participants - MFIs | 0 |
| Volumes 2019 | 58,000 |
| Volumes 2020 | 185,000 |
| Volumes 2021 | 489,000 |
| US$ Exchange Rate 30 April | 67.7905 |
| Values 2019 | 1,690,311 USD |
| Values 2020 | 7,349,171 USD |
| Values 2021 | 19,932,675 USD |
| Values 2022 | 41,526,409 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 arrangement | Payment system operator |
| Ownership model | Jointly owned |
| Governance Typology | PPP |
| Scheme rules shared or publically available? | No |
| Messaging standard | ISO 20022;ISO 8583;API |
| Types of proxy IDs | QR code |
| Use of open APIs | Yes |
| QR code standard | N/A |
| Pro-poor governance | Yes |
| CB governance involvement | Yes |
| Expanded use Cases | No |
| Minimum channel functionality | Yes |
| Minimum use case functionality | Yes |
| All licensed PSPs can participate (all-to-all interoperability) | No |
| Recourse | No |
| Not-for-loss | No |
| Status | Reached basic level, almost at progressed level |
| Strengths/drivers | Fulfillment 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 development | To reach progressed level, the system can strive to expand the participation to non-banks to enable cross-domain transactions . |
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