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Angola
Kwanza Instantâneo (KWiK)
Scheme name: Kwanza Instantâneo (KWiK)
IIPS Type: Cross-domain
Instruments: E-money
Channels: Agent, USSD, App, Browser
Use cases: Transfers & remittances (P2P)
Inclusivity level: Not ranked
Year of establishment: 2023
System owner: National Bank of Angola
Overseer: National Bank of Angola
Operator: Empresa Interbancária de Serviços (EMIS)
Total Participants: 11
Volumes 2023: 5,983
Values 2023: 301,007 USD
Back to map| Category | Kwanza Instantâneo (KWiK) |
|---|---|
| Geographic reach | Domestic |
| Geographic description | Angola |
| Scheme governance | National Bank of Angola |
| Settlement agent | National Bank of Angola |
| Participants - commercial banks | 10 |
| Participants - MMOs | 1 |
| Participants - non-bank PSPs | 0 |
| Participants - MFIs | 0 |
| US$ Exchange Rate 30 April | 830.6760 |
| Values 2023 not-on-us transactions (US$) | 301,007 USD |
| Values 2023 on-us transactions (US$) | N/A |
| Total value of instant payment transactions 2023 (US$) | 301,007 USD |
| Interoperability arrangement | Payment system operator |
| Ownership model | Regulator-owned |
| Governance Typology | Central bank |
| Scheme rules shared or publically available? | Yes |
| Messaging standard | ISO 20022 |
| Types of proxy IDs | E-mail; Mobile phone number; Nickname |
| 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 | No |
| All licensed PSPs can participate (all-to-all interoperability) | Yes |
| Recourse | No |
| Not-for-loss | Yes |
| Status | Almost at progressed level |
| Strengths/drivers | Has already fulfilled all the criteria for progressed level, as well as not-for-loss criteria from mature level. If KWiK introduces P2B payments they will skip basic criteria and go straight to progressed. |
| Areas of development | Key next steps will be introduction of P2B. Further development areas will be expanding to further use cases as well as developing the consumer recourse requirements, to achieve mature level. |
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