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Malawi

Natswitch

Scheme name: Natswitch

IIPS Type: Cross-domain

Inclusivity level: Progressed

Year of establishment: 2015

System owner: Bankers Association of Malawi

Overseer: Reserve Bank of Malawi

Operator: Banking Payments Context

Total Participants: 11

Volumes 2022: 11,458,762

Values 2022: 311,826,606 USD

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CategoryNatswitch
Geographic reachDomestic
Geographic descriptionMalawi
Scheme governanceBankers Association of Malawi
Settlement agentReserve Bank of Malawi
Participants - commercial banks8
Participants - MMOs2
Participants - non-bank PSPs0
Participants - MFIs1
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 2020152,676,182 USD
Values 2021196,353,165 USD
GNI12,398,475,305
GNI (%)3%
% off-us transactions0.6%
Interoperability arrangementThird party
Ownership modelParticipant-owned
Governance TypologyPrivate association
Messaging standardISO 8583
Types of proxy IDsNo
Use of open APIsN/A
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use CasesNo
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseNo
Not-for-lossYes
TSP partners BPC Banking Technologies Group (switching), Mitra Systems (computer hardware), Globe Internet (networking and telecommunications)
Start-up funding (US$ million) 2.2 (part of World Bank FSTAP US$28 million)

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