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Lesotho

LeSwitch

Scheme name: LeSwitch

IIPS Type: Mobile money

Instruments: E-money

Channels: Agent, USSD, App

Use cases: Transfers & remittances (P2P)

Inclusivity level: Not ranked

Year of establishment: 2024

System owner: Central Bank of Lesotho

Overseer: Central Bank of Lesotho

Operator: Central Bank of Lesotho

Total Participants: 5

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CategoryLeSwitch
Geographic reachDomestic
Geographic descriptionLesotho
Scheme governanceCentral Bank of Lesotho
Settlement agentCentral Bank of Lesotho
Participants - commercial banks0
Participants - MMOs5
Participants - non-bank PSPs0
Participants - MFIs0
Values 2023 not-on-us transactions (US$)N/A
Interoperability arrangementPayment system operator
Ownership modelRegulator-owned
Governance TypologyPPP
Scheme rules shared or publically available?No
Messaging standardISO 20022
Types of proxy IDsMobile phone number
Use of open APIsYes
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use CasesNo
Minimum channel functionalityYes
Minimum use case functionalityNo
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossYes
StatusAlmost at basic level
Strengths/driversLeSwitch has already fulfilled two progressed level criteri, and the not-for loss criteria from mature level. This provides a good base to progress further in the inclusivity spectrum once merchant payments is enabled.
Areas of developmentKey next steps will be introduction of P2B to reach basic level. Further development areas will be enabling bank participation in the instant payments, to allow cross-domain transfer. Once these two things are in place, LeSwitch will reach progressed level. For the mature level, areas for development is expanding to further use cases as well as developing the consumer recourse requirements.

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