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Madagascar
Madagascar mobile money
Scheme name: Madagascar mobile money
IIPS Type: Mobile money
Instruments: E-money
Channels: Agent, USSD, App
Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Bill payments (P2B/P2G), Fees & taxes (P2G), Social disbursements (G2P), Salaries & wages (B2P)
Inclusivity level: Basic
Year of establishment: 2016
System owner: None (bilateral agreements)
Overseer: Central Bank of Madagascar
Operator: None (bilateral agreements)
Total Participants: 3
Volumes 2023: 946,443,373
Values 2023: 12,598,079,557 USD
Back to map| Category | Madagascar mobile money |
|---|---|
| Geographic reach | Domestic |
| Geographic description | Madagascar |
| Scheme governance | None (bilateral agreements) |
| Settlement agent | Central Bank of Madagascar |
| Participants - commercial banks | 0 |
| Participants - MMOs | 3 |
| Participants - non-bank PSPs | 0 |
| Participants - MFIs | 0 |
| Volumes 2019 | 299,128,814 |
| Volumes 2020 | 358,831,988 |
| Volumes 2021 | 513,677,905 |
| US$ Exchange Rate 30 April | 4,403.6400 |
| Values 2019 | 4,863,960,531 USD |
| Values 2020 | 5,595,393,484 USD |
| Values 2021 | 7,528,467,046 USD |
| Values 2022 | 10,121,991,179 USD |
| Values 2023 not-on-us transactions (US$) | N/A |
| Values 2023 on-us transactions (US$) | N/A |
| Total value of instant payment transactions 2023 (US$) | 12,598,079,557 USD |
| Interoperability arrangement | Multilateral |
| Ownership model | Participant-owned |
| Governance Typology | Private association |
| Scheme rules shared or publically available? | No |
| Messaging standard | N/A |
| Types of proxy IDs | Mobile phone number |
| Use of open APIs | N/A |
| QR code standard | N/A |
| Pro-poor governance | Yes |
| CB governance involvement | No |
| 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, with potential to reach progressed level |
| Strengths/drivers | Fulfilment of basic criteria provides a good base to progress further on the inclusivity spectrum. |
| Areas of development | Areas for development include involvement of Central Bank as well as both bank and non-bank PSPs in governance, as well as enabling cross-domain interoperability for all participants. |
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