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SADC

Transactions Cleared on an Immediate Basis (TCIB)

Scheme name: Transactions Cleared on an Immediate Basis (TCIB)

IIPS Type: Cross-domain

Instruments: Credit EFT

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

Use cases: Transfers & remittances (P2P), Cross-border

Inclusivity level: Not ranked

Year of establishment: 2021

System owner: SADC Payment Systems Management Board

Overseer: SADC Payment System Oversight Committee

Operator: BankservAfrica

Total Participants: 14

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CategoryTransactions Cleared on an Immediate Basis (TCIB)
Geographic reachRegional
Geographic descriptionSADC
Scheme governanceCommittee of Central Bank Governors
Settlement agentSouth Africa Reserve Bank (ZAR), correspondent banks (non-ZAR)
Participants - commercial banks13
Participants - MMOsN/A
Participants - non-bank PSPs1
Participants - MFIsN/A
Volumes 2018N/A
Volumes 2019N/A
Volumes 2020N/A
Volumes 2021N/A
Values 2018N/A
Values 2019N/A
Values 2020N/A
Values 2021N/A
Interoperability arrangementThird party
Ownership modelRegulator-owned
Governance TypologyPPP
Messaging standardISO 20022
Types of proxy IDsN/A
Use of open APIsYes
QR code standard No
Pro-poor governanceOui
CB governance involvementYes
All licensed PSPs can participate (all-to-all interoperability)Yes
Not-for-lossYes

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