The Mauritius Central Automated Switch (MauCAS) was launched by the Bank of Mauritius on Wednesday 14th of August 2019. It is a novel state-of-the art digital hub fully owned and operated by the Bank of Mauritius for routing payments among operators on a 24x7 basis.
MauCAS is built on open standards, and will enable banks and non-bank operators to provide transformative payment and value added services through cards, mobile phones and other innovative channels.
As the central payment switch, MauCAS will simplify the current retail payments by routing transactions made through cards and mobile phones for settlement at the Bank of Mauritius. This will enhance efficiency in the system while maintaining the interoperability of different channels of payments.
The Instant Payments System, shall enable customers to effect transfers between any two accounts in any two institutions within seconds. The new system further enables operators and customers to use a payment service offered by any operator (bank or non-bank) whilst maintaining the existing account in another bank. Mauls shall further enable the sharing of ATMs as well as other value-added services.
It is anticipated that the new central automated switch shall enable lower transaction and operating costs thus bringing down the cost of payments - most particularly on the domestic card segment.
The Bank of Mauritius has published an Information Note on the new system which can be accessed here.