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Cameroon invites startups to get connected to the national payment switch

Cameroon invites startups to get connected to the national payment switch
  • Comments   -   Monday, 25 October 2021 11:11

(Business in Cameroon) - On October 22, 2021, Afriland First Bank officially connected to the national payment switch, the single gateway facilitating interoperability of the various services offered by operators using the national electronic communication network. During the official ceremony inaugurating the connection, Minister of Posts and Telecommunications (MINPOSTEL) Minette Libom Li Likeng invited startups to do the same.  

“We allowed up to December 2019 for mobile telephony operators to connect [to the switch]. Every one of them has done so now. This is an opportunity for me to call on all startups and value-added service providers to get connected to the platform because, with all the mobile telephony operators now connected, the market of millions of mobile telephony subscribers is now open to anyone offering financial, payment, and even electronic communication services,” the MINPOSTEL said. 

Even you journalists… How can you now reach your millions of subscribers and pass your messages to them? You no longer have to negotiate with MTN, Orange, Camtel, or Nexttel in particular. You will only have to connect to the switch to access all the mobile telephone subscribers to offer your services,” she added.  

Inaugurated on March 31, 2020, the national payment switch developed by Campost is aimed at guaranteeing equitable interconnection access, reducing mobile financial transaction charges, and boosting financial inclusion. Through the USSD code  # 237# users can perform some mobile transactions no matter their operators or the type of phone used, without even an internet connection. The services user can have access to, including fund transfers, bill or school fee payments, and even airtime purchases. 

Also, banks like Ecobank and Afriland First Bank have connected to the switch thanks to which electronic payments are now democratized.

S.A.

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