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Mozambique

Sociedade Interbancaria De Mocambique (SIMO)

Scheme name: Sociedade Interbancaria De Mocambique (SIMO)

IIPS Type: Cross-domain

Instruments: Credit EFT, E-money, Card

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

Use cases: Transfers & remittances (P2P), Merchant payments (P2B)

Inclusivity level: Basic

Year of establishment: 2021

System owner: Bank of Mozambique and industry

Overseer: Bank of Mozambique

Operator: SIMO

Total Participants: 19

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CategorySociedade Interbancaria De Mocambique (SIMO)
Geographic reachDomestic
Geographic descriptionMozambique
Scheme governanceSIMO
Settlement agentCentral Bank of Mozambique
Participants - commercial banks16
Participants - MMOs3
Participants - non-bank PSPs0
Participants - MFIs0
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$)N/A
Interoperability arrangementPayment system operator
Ownership modelJointly owned
Governance TypologyPPP
Scheme rules shared or publically available?No
Messaging standardN/A
Types of proxy IDsMobile phone number
Use of open APIsN/A
QR code standard N/A
Pro-poor governanceNo
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-lossNo
StatusAlmost at progressed level
Strengths/driversFulfilled all basic criteria and cross-domain as well as central bank governance involvement from progressed level provides a good base to move up further in the inclusivity spectrum.
Areas of developmentAreas of development include developing pro-poor governance where all participants can input into the decision-making process.

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