Switch Al Maghrib (SWAM)
- Geographic Reach
Morocco
- Gender disaggregated data
No
- Geographic Region
Northern Africa
- Coverage
Domestic
- Year Of Establishment
2018
- IPS
Mobile-money
- Interoperability Arrangement
Multilateral
- Governance Typology
Industry led
- Ownership Model
Jointly owned
- System Owner
SWAM
- Overseer
Bank al Maghrib (central bank)
- System Governance
Bank al Maghrib (central bank)
- Operator
SWAM
- Settlement Agent
Bank al Maghrib (central bank)
- Number of Unique IPS End Users
-
- Total Number Of Participants
21
- Number Of Direct Participants: Commercial Banks
8
- Number Of Direct Participants: E-money Issuers
13
- Number of Direct Participants: MFIs
-
- Number of Direct Participants: Other
-
- Number of Direct Participants: Post Office
-
- Indirect Participants Type
-
- Number Of Indirect Participants
-
- Supported Use Cases
P2P, P2B , G2P
- Supported Instruments
E-money
- Primary Local Channel
App
- Supported Channels
Agent (e-money), Agent (banking), App, QR Code, ATM
- QR Code Enabled Type
Both
- Messaging Standard
ISO 8583
- Proxy ID
Mobile phone number, QR code
- Other Proxy ID Type
-
- Business Model
-
- Pricing Structure
Pricing based on the number of exchanges in the place + Pricing of the services offered
- Scheme Rules Public
No
- Additional Recourse Requirements
No
- Dispute Resolution Mechanism
Yes
- API Functionality
Yes
- Startup Funding Source
-
- Participation in Decision Making
Yes
- Mechanism for Decision Making
GP2M, APEP
- Ability to become Direct Participants
Yes
- Entities that cannot Participate
-
- Min Value for Transactions
No min. value
- Corporate Structure
Public listed company
- Other Corporate Structure
-
- Pull Request to Pay Enabled
Yes
- Third Party Connections Enabled
No
- Real Time Payment Confirmation
Yes
- Transaction Validation Enabled
No
- Inclusivity Ranking
Basic
Virements instantanés
- Geographic Reach
Morocco
- Gender disaggregated data
No
- Geographic Region
Northern Africa
- Coverage
Domestic
- Year Of Establishment
2023
- IPS
Bank
- Interoperability Arrangement
Multilateral
- Governance Typology
Public Private Partnership (PPP)
- Ownership Model
Regulator-owned
- System Owner
GROUPEMENT POUR UN SYSTEME INTERBANCAIRE DE TELECOMPENSATION (GSIMT)
- Overseer
Bank al Maghrib (central bank)
- System Governance
Bank al Maghrib (central bank)
- Operator
GROUPEMENT POUR UN SYSTEME INTERBANCAIRE DE TELECOMPENSATION (GSIMT)
- Settlement Agent
Bank al Maghrib (central bank)
- Number of Unique IPS End Users
-
- Total Number Of Participants
17
- Number Of Direct Participants: Commercial Banks
17
- Number Of Direct Participants: E-money Issuers
-
- Number of Direct Participants: MFIs
-
- Number of Direct Participants: Other
-
- Number of Direct Participants: Post Office
-
- Indirect Participants Type
-
- Number Of Indirect Participants
-
- Supported Use Cases
P2P
- Supported Instruments
Credit EFT
- Primary Local Channel
App
- Supported Channels
App, Agent (banking), Browser
- QR Code Enabled Type
-
- Messaging Standard
ISO 20022
- Proxy ID
Bank account number
- Other Proxy ID Type
-
- Business Model
Not-for-profit
- Pricing Structure
Pricing consists of distributing operating and investment costs among members on the basis of a rule which is approved annually by the general meeting which brings together all the banks.
- Scheme Rules Public
No
- Additional Recourse Requirements
No
- Dispute Resolution Mechanism
Yes
- API Functionality
Yes
- Startup Funding Source
Source of funding: GSIMT members/Cost of the platform: 16 million dirhams
- Participation in Decision Making
Yes
- Mechanism for Decision Making
A rule for designating board members is established based on their discussions. This designation is reviewed every two years.
- Ability to become Direct Participants
Yes
- Entities that cannot Participate
-
- Min Value for Transactions
No min. value
- Corporate Structure
Other
- Other Corporate Structure
Cooperative non-profit organisation (Groupement d'Intérêt Économique (GIE))
- Pull Request to Pay Enabled
-
- Third Party Connections Enabled
-
- Real Time Payment Confirmation
Yes
- Transaction Validation Enabled
Yes
- Inclusivity Ranking
Not ranked
