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Malawi

Natswitch

Scheme name: Natswitch

IIPS Type: Cross-domain

Instruments: Credit EFT, Debit EFT, E-money, Card

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

Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Inventory & business services (B2B)

Inclusivity level: Progressed

Year of establishment: 2015

System owner: Reserve Bank of Malawi

Overseer: Reserve Bank of Malawi

Operator: Natswitch

Total Participants: 13

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CategoryNatswitch
Geographic reachDomestic
Geographic descriptionMalawi
Scheme governanceNatswitch
Settlement agentReserve Bank of Malawi
Participants - commercial banks10
Participants - MMOs2
Participants - non-bank PSPs1
Participants - MFIsN/A
Volumes 20183,355,318
Volumes 20195,410,304
Volumes 20208,723,878
Volumes 20219,826,572
Values 201886,855,374 USD
Values 2019115,561,811 USD
Values 2020153,755,969 USD
Values 2021197,867,086 USD
Interoperability arrangementThird party
Ownership modelParticipant-owned
Governance TypologyPrivate association
Messaging standardISO 8583
Types of proxy IDsBIN Number
Use of open APIsNo
QR code standard No
Pro-poor governanceYes
CB governance involvementYes
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseYes

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