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Malawi

Natswitch

Scheme name: Natswitch

IIPS Type: Cross-domain

Instruments: Credit EFT, E-money, Card

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

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

Inclusivity level: Progressed

Year of establishment: 2022

System owner: Natswitch

Overseer: Reserve Bank of Malawi

Operator: Natswitch

Total Participants: 54

Volumes 2023: 11,652,498

Values 2023: 931,490,669 USD

Back to mapMore information about this topic
CategoryNatswitch
Geographic reachDomestic
Geographic descriptionMalawi
Scheme governanceNatswitch
Settlement agentReserve Bank of Malawi
Participants - commercial banks8
Participants - MMOs8
Participants - non-bank PSPs0
Participants - MFIs38
Volumes 20191,305,650
Volumes 20204,758,833
Volumes 20214,887,911
US$ Exchange Rate 30 April1,720.4700
Values 20192,600,640,706 USD
Values 202017,637,777 USD
Values 202120,784,663 USD
Values 202241,521,104 USD
Values 2023 not-on-us transactions (US$)12,512,279 USD
Values 2023 on-us transactions (US$)918,978,391 USD
Total value of instant payment transactions 2023 (US$)931,490,669 USD
Interoperability arrangementPayment system operator
Ownership modelParticipant-owned
Governance TypologyPrivate association
Scheme rules shared or publically available?No
Messaging standardISO 8583
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 functionalityYes
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseNo
Not-for-lossYes
StatusReached progressed level, with potential to reach mature level.
Strengths/driversFulfilment of progressed criteria as well as a already fulfilling the not-for-loss business model provides a good base to reach mature level.
Areas of developmentAreas for development include expanding use cases further and implementing consumer recourse requirements.

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