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Payment system: Soon the creation of an automated clearing house within the CEMAC

29/07/2022
Categories: General Information

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The Bank of Central African States (BEAC) announced that it plans to replace the current telecompensation system in Central Africa (SYSTAC) with a centralized system, universal, unique. Thus, a call for tenders was launched to recruit a firm to design, supply, install and implement an automated clearing house.

The firm will create a real-time automated clearing house for all non-cash retail payment methods in the sub-region. This entity will also take care of instant electronic money transfers excluding payment cards that operate in real time. The Bank has indicated that it is seeking to establish a system capable of integrating into a cross-border payments ecosystem, in line with international standards and in line with recent developments in the retail and retail payments industry that integrates the instant payment and mobile wallet payments, or even real-time compensation.

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