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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, Debit EFT

Channels: App

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

Inclusivity level: Not ranked

Year of establishment: 2021

System owner: CCBG

Overseer: SADC Payment System Oversight Committee

Operator: BankservAfrica

Total Participants: 2

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CategoryTransactions Cleared on an Immediate Basis (TCIB)
Geographic reachRegional
Geographic descriptionSADC
Scheme governancePayment Systems Management Body (PSMB)
Settlement agentSADC - RTGS (South African Reserve Bank)
Participants - commercial banks0
Participants - MMOs2
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 modelRegulator-owned
Governance TypologyPPP
Scheme rules shared or publically available?Yes
Messaging standardISO 20022
Types of proxy IDsE-mail; Mobile 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 functionalityNo
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseNo
Not-for-lossYes
StatusAlmost at progressed level
Strengths/driversHaving already fulfilled all progressed criteria means the system has the potential to go straight from not ranked to progressed.
Areas of developmentUpon enablement of P2B will fulfill basic and progressed criteria. Next steps will be expanding to further use cases as well as developing the consumer recourse requirements to achieve mature level.

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