August 14, 2019
The instant payment system (IPS) operated by the Bank of Mauritius has gone live on August 14th, 2019. It is a part of the Mauritius Automated Clearing and Settlement System (MACSS).
The IPS enables customers to effect transfers between any two accounts in any two institutions within seconds. The system works in the Active-Active cluster mode, in case of failure of one of the servers, work continues on the second one without reconnecting the participants. In addition to the basic functionality (Direct Credit, Return), the system by using the OpenBanking module allows to send digitally-signed requests for payment on behalf of another participant in the system (for example, from an electronic wallet), as well as request a balance / account statement. The system has the Central Addressing Schema module (a centralized catalog of customer account numbers associated with an identifier, for example, a mobile phone number, which simplifies the transfer of money from client to client - you only need to know the mobile phone number, not the account number). The system also, has several modules which can be implemented later such as Dispute Management, Fraud Detection, Billers.
Information on Instant Payments solution from CMA can be obtained by filling out feedback form on company’s website.