WHAT WE DO
Level One Principles for OpenSwitch
A set of guiding principles to ensure Open Switch Africa delivers efficient, inclusive, and secure payment operations for all users, with a focus on accessibility and fairness.
Open and Inclusive Payment Ecosystem
Operate as an open-loop payment system accessible to any licensed payment provider in the region, including banks and non banks. Leverage open international standards to ensure interoperability and broad participation.
Real-Time and Irrevocable Payments
Facilitate real-time, push based payments to minimise risks and costs associated with batch processed or pull-based systems. Ensure payments are irrevocable with same-day settlement among participants for reliability and trust.
Pro-Poor Governance and Oversight
Establish governance structures that prioritise the needs of underserved communities, ensuring equal ownership and engagement by governments and payment providers. Implement tired “Know Your Customer” (KYC) requirements to enhance accessibility while maintaining regulatory compliance.
Cost-Efficient and Not-for-Loss Operations
Design the payment system to operate on a “not-for-loss” or “cost-recovery-plus-investment” basis, ensuring affordability for low-income users. Prevent ecosystem participants from extracting excessive profits, focusing on utility and accessibility
Collaborative Fraud Prevention
Promote shared responsibility in fraud detection by implementing cooperative schemes and platform services. Reduce the reliance burden on individual providers while ensuring a cos-effective, efficient fraud prevention framework.
