Cameroon National Payment Switch
Set to Accelerate Digital Payments at Low Cost
Since the launching of the National Payment Switch in Cameroon, very few start-ups are taking advantage of this to facilitate and reduce cost of transactions between different payment networks.
The national payment infrastructure provides several benefits to the whole payment industry namely: Customers, merchants, service providers, and the government.
Benefits of the National Payment Switch
- Lower transaction costs: As a direct intermediary between payment operators, the interoperable national payment switch infrastructure will bring the much-needed efficiency in dealing with domestic payments, which up to now required a non-domestic intermediary. The NPS will charge much lower routing fees to operators who will pass on the benefits to their customers.
- Lower operation costs: the national payment switch will be a central payment infrastructure allowing payment service providers to connect to the system through low-cost direct interfaces thus benefiting from economies of scale to reduce operation costs.
- More payment service providers: The NPS is providing a level playing field for bank and non-bank operators to compete and provide new types of services which will ultimately provide more options to the customers.
- More electronic payment options: When current retail payment options are principally limited to cards. The NPS infrastructure will promote the emergence of a new breed of payment service providers who will bring more customer-centric services and embed innovative payment options in services such as insurance, booking, etc.
- E-government services: the national payment switch comprise a payment gateway for government services to boost acceptance of electronic payments, regardless of whether these are on-site or online.
Accessible by dialing #237# every merchant can purchase a unique payment code to facilitate their transactions with clients.
The National Payment Switch is operated by CAMPOST.
