MauCAS to pave the way for new electronic payment options, says PM

GIS – 15 August, 2019: The Mauritius Central Automated Switch (MauCAS), a novel state-of-the art digital hub fully owned and operated by the Bank of Mauritius (BoM) for routing payments among operators on a 24/7 basis, was launched, yesterday, by the Prime Minister, Minister of Home Affairs, External Communications and National Development Unit, Minister of Finance and Economic Development, Mr Pravind Kumar Jugnauth.  The launch ceremony was held at the seat of the Bank of Mauritius in Port Louis.

In his address, the Prime Minister highlighted that MauCAS, which is built on open standards, will enable banks and non-bank operators to provide transformative payment and value-added services through innovative channels. This will hence pave the way for new electronic payment options, he indicated.
 
In the face of a technology-driven era, the Prime Minister emphasised that Government is committed to modernising Mauritius and enhancing the quality of life of the population with various technological and infrastructural projects. Therefore, MauCAS will help to accommodate enriched mobile applications and FinTech, among others. It will also be used to successfully launch a central virtual register of ‘Know Your Client’ from the BoM, leading to reducing the time and costs of this key regulation of the financial services sector, he added.
Moreover, Mr Jugnauth reiterated his vision of a cashless society to better secure financial transactions in Mauritius. MauCAS will be a real boost to e-commerce with its 24/7 payment system, he pointed out. The Prime Minister also announced the upcoming introduction of a "Central Bank Digital Currency".
For his part, the Governor of the BoM, Mr Yandraduth Googoolye, stated that MauCAS is a payment ecosystem designed to benefit all stakeholders of the payment industry, from end-customers to merchants and service providers as well as the Government. Through this initiative, he added, the Bank supports the development of Mauritius into a digital economy.
 
Furthermore, he indicated that as MauCAS effects retail payments outside official operating hours, it is the first national payment platform to operate round the clock, a feature attributable to a handful of countries in Sub-Saharan Africa. MauCAS, he said, will change the dynamics of currency circulation in the country, reduce float in the system as well as allow banks and businesses to manage their liquidity more efficiently.
 
On the regional front, Mauritius is already a member and host of the COMESA Regional Payment and Settlement System (REPSS), Mr Googoolye highlighted. MauCAS may serve as a regional switch to the participating countries and be used for cross border retail payments through mobiles and cards, with settlement being carried out on REPSS, he added.
 
The Mauritius Central Automated Switch
 
As the central payment switch, MauCAS is designed to simplify the current retail payments by routing transactions made through cards and mobile phones for settlement at the Bank of Mauritius. This therefore enhances efficiency in the system while maintaining the inter-operability of different channels of payments.
 
The goal of MauCAS is to create an enabling environment for digital payments so as to support the development of Mauritius into a digital economy. Additionally, MauCAS aims at: providing a multifaceted inter-operator switching platform for various payment channels; reducing infrastructure acquisition and ownership costs through shared costs among stakeholders; creating a common platform for key players to develop e-products that would extend the coverage of services beyond the traditional bank clientele; providing an open system for businesses and; increasing versatility of payment options through the concept of ‘anywhere, anytime payment’.
 

Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: gis@govmu.org  Website: http://gis.govmu.org  Mobile App: Search Gov

844 Replies to “MauCAS to pave the way for new electronic payment options, says PM”

  1. According OTC lymphatic routine derangements РІ here are some of the symptoms suggestive on that development : Geezer Up Today Equally Functional Command Associated Ache Duro Rehab Thickening-25 Fibrous Beat Can Only Out Mr. paper help Vehxfy eywwdy

  2. It can also be a component transfusion to slash into more fine points around the us and electrolyte of a significant in index to persist which on tap laryngeal effects are available, and how they can other you. Branded cialis Grjzcn xgzjct

  3. hey there and thank you for your info – I’ve definitely picked up anything new from right here. I did however expertise a few technical issues using this web site, since I experienced to reload the website lots of times previous to I could get it to load correctly. I had been wondering if your web host is OK? Not that I’m complaining, but slow loading instances times will often affect your placement in google and could damage your high-quality score if advertising and marketing with Adwords. Well I am adding this RSS to my e-mail and could look out for much more of your respective interesting content. Make sure you update this again very soon.. cbd cbd for pain

  4. We are a bunch of volunteers and starting a brand new scheme in our community. Your website provided us with useful info to work on. You’ve performed an impressive activity and our whole community will probably be thankful to you. cbd buy cbd

  5. Taxi moto line
    128 Rue la Boétie
    75008 Paris
    +33 6 51 612 712  

    Taxi moto paris

    Very descriptive post, I liked that bit. Will there be a part 2?

  6. Its like you learn my mind! You appear to know a lot approximately this, like
    you wrote the e-book in it or something. I feel that you simply can do with a
    few percent to power the message house a bit, however other than that, this is excellent blog.
    A fantastic read. I’ll definitely be back.

  7. My brother recommended I might like this web site. He was once totally right. This put up actually made my day. You cann’t consider simply how a lot time I had spent for this info! Thanks!|

  8. I needed to create you one little observation just to say thank you as before for these fantastic information you’ve discussed here. It has been certainly particularly generous of people like you to convey freely all that a lot of people could possibly have made available as an e book to earn some cash for their own end, especially considering the fact that you could possibly have done it if you ever decided. The good tips also acted like a fantastic way to be sure that other individuals have similar dreams just like my own to grasp a whole lot more in terms of this issue. I’m sure there are many more fun occasions ahead for individuals that find out your blog post.

  9. I intended to compose you a bit of note in order to give thanks again for all the breathtaking guidelines you’ve contributed at this time. It’s extremely generous of people like you in giving extensively all a few people could have distributed as an e-book in order to make some bucks for their own end, certainly considering that you could have done it if you considered necessary. The creative ideas additionally acted as the easy way to be certain that most people have a similar fervor much like my personal own to know the truth many more regarding this matter. I am sure there are numerous more pleasant periods in the future for many who looked over your site.

  10. I’m commenting to let you be aware of of the excellent discovery my cousin’s child enjoyed going through your blog. She discovered a wide variety of details, most notably how it is like to have a very effective coaching heart to get many more effortlessly fully understand certain complicated matters. You actually did more than my desires. I appreciate you for displaying such great, healthy, educational and also cool guidance on that topic to Evelyn.

  11. A lot of thanks for all your efforts on this site. Gloria enjoys engaging in investigation and it’s easy to understand why. Almost all know all concerning the dynamic means you deliver great items on the web blog and as well encourage contribution from other people on that concern plus our daughter is actually being taught a lot. Have fun with the remaining portion of the new year. You’re the one conducting a glorious job.

  12. I needed to post you that little bit of observation to say thank you as before for these gorgeous knowledge you’ve documented here. It has been certainly particularly generous of people like you to convey freely exactly what a lot of people could possibly have made available as an e book to earn some cash for their own end, even more so considering the fact that you could possibly have done it if you ever decided. The ideas also acted like a fantastic way to comprehend other individuals have similar dreams like my own to grasp good deal more in terms of this issue. I’m sure there are many more fun occasions ahead for individuals that go through your blog post.

  13. I am also commenting to let you know of the helpful encounter my friend’s daughter found reading through your web page. She figured out numerous issues, not to mention what it’s like to have an amazing giving mood to have most people really easily know selected impossible subject areas. You really exceeded our own expectations. Many thanks for imparting the invaluable, safe, explanatory and even easy thoughts on the topic to Janet.

  14. My spouse and i have been really lucky that Louis managed to finish off his research through your precious recommendations he made through your web pages. It is now and again perplexing to just find yourself handing out solutions which people today may have been selling. Therefore we know we need the writer to give thanks to for that. The specific illustrations you have made, the simple web site navigation, the relationships you will help to instill – it’s got most powerful, and it’s really leading our son in addition to the family reason why the subject is fun, which is really pressing. Thank you for the whole lot!

  15. I’m just commenting to let you be aware of of the nice encounter my wife’s girl had studying your web site. She mastered several pieces, which include what it’s like to possess an awesome helping nature to let other individuals very easily know precisely some problematic subject matter. You truly exceeded people’s expectations. Thank you for presenting these practical, trusted, informative and in addition fun tips about this topic to Kate.

  16. I happen to be writing to make you understand what a useful experience our princess went through visiting yuor web blog. She realized too many things, with the inclusion of what it is like to possess an incredible teaching style to make the rest without problems understand various very confusing topics. You undoubtedly surpassed visitors’ expected results. Thanks for supplying those warm and friendly, trustworthy, revealing not to mention unique tips on your topic to Tanya.

  17. Thanks for the advice on credit repair on this excellent site. Some tips i would tell people should be to give up the particular mentality that they may buy currently and shell out later. Being a society many of us tend to try this for many issues. This includes vacation trips, furniture, along with items we wish. However, you’ll want to separate your current wants out of the needs. If you are working to boost your credit score actually you need some trade-offs. For example you’ll be able to shop online to save cash or you can look at second hand merchants instead of high-priced department stores pertaining to clothing.

  18. Hello There. I found your blog using msn. This is an extremely well written article.
    I’ll make sure to bookmark it and come back to read more of your useful information. Thanks for the
    post. I’ll definitely comeback.

  19. Thanks for your ideas. One thing I have noticed is that banks and financial institutions are aware of the spending practices of consumers while also understand that most of the people max out there their real credit cards around the getaways. They properly take advantage of this specific fact and commence flooding your current inbox along with snail-mail box using hundreds of no-interest APR card offers just after the holiday season comes to an end. Knowing that should you be like 98% of American community, you’ll rush at the possiblity to consolidate card debt and shift balances for 0 apr interest rates credit cards. ihhhgjl https://headachemedi.com – best Headache medication

  20. Thanks for your thoughts. One thing I’ve got noticed is the fact banks in addition to financial institutions understand the spending behaviors of consumers and as well understand that the majority of people max out and about their cards around the breaks. They smartly take advantage of that fact and then start flooding ones inbox in addition to snail-mail box having hundreds of no interest APR credit cards offers shortly after the holiday season concludes. Knowing that for anyone who is like 98% in the American general public, you’ll soar at the possible opportunity to consolidate consumer credit card debt and switch balances towards 0 interest rate credit cards. mllkjmn https://thyroidmedi.com – drugs used for thyroid problems

  21. Thanks for your thoughts. One thing I’ve got noticed is the fact banks in addition to financial institutions understand the spending behaviors of consumers and as well understand that the majority of people max outside their cards around the breaks. They smartly take advantage of that fact and then start flooding ones inbox in addition to snail-mail box having hundreds of no interest APR credit cards offers shortly after the holiday season closes. Knowing that for anyone who is like 98% in the American general public, you’ll soar at the one opportunity to consolidate consumer credit card debt and switch balances towards 0 interest rate credit cards. nmmlkno https://stomachmedi.com – stomach meds for acid reflux

  22. Thanks for your tips. One thing we have noticed is always that banks and also financial institutions have in mind the spending behavior of consumers and also understand that a lot of people max out there their own credit cards around the holiday seasons. They prudently take advantage of this kind of fact and begin flooding the inbox and also snail-mail box together with hundreds of Zero APR card offers immediately after the holiday season comes to an end. Knowing that in case you are like 98% of all American open public, you’ll hop at the possiblity to consolidate personal credit card debt and move balances for 0 interest rates credit cards. gggffhk https://pancreasmedi.com – drugs used to threat stomach

  23. Today, taking into consideration the fast chosen lifestyle that everyone is having, credit cards get this amazing demand throughout the market. Persons out of every arena are using credit card and people who not using the credit card have prepared to apply for just one. Thanks for spreading your ideas in cre