LeSwitch Lesotho’s Interoperable National Payment Switch Goes live
Casablanca, Morocco, January 7, 2025
PayLogic is pleased to announce the successful launch of the National Payment Switch, known as LeSwitch. This innovative platform is set to revolutionize Lesotho’s financial landscape by enabling seamless, secure, and efficient transactions across various payment channels.
LeSwitch serves as a centralized hub that integrates multiple payment systems, including Point of Sale (POS) terminals, Automated Teller Machines (ATMs), mobile money platforms, and e-commerce portals. By consolidating these channels, LeSwitch facilitates real-time electronic payments, ensuring funds are promptly available to recipients and enhancing the overall efficiency of the country’s payment ecosystem.
The implementation of LeSwitch is a significant milestone in Lesotho’s journey towards financial inclusion and digital transformation. By promoting interoperability among banks, mobile network operators, and other financial service providers, the platform ensures that all citizens, regardless of their location, can access financial services conveniently.
PayLogic, a leading payment technology solutions company, has been instrumental in the development and implementation of LeSwitch. Its PayWay platform, known for its cutting-edge capabilities, serves as the backbone of Lesotho’s national payment infrastructure. The platform offers a wide range of functionalities, including transaction processing, fraud management, participant management, and seamless interfaces with various stakeholders, including banks, mobile network operators, aggregators, and Visa.
“We are honored to partner with the Central Bank of Lesotho in this transformative project,” said Mohamed Mekouar, Executive Chairman at PayLogic. “Our PayWay platform will empower Lesotho’s financial sector with advanced payment capabilities, driving economic growth and financial inclusion. We look forward to supporting the Central Bank in their mission to create a modern, secure, and efficient payment infrastructure for the benefit of all stakeholders.”
The Central Bank of Lesotho remains committed to modernizing the country’s payment systems and fostering an environment conducive to sustainable economic growth and prosperity. The launch of LeSwitch is a testament to this commitment and a significant step towards a more inclusive and efficient financial ecosystem in Lesotho.
About the Central Bank of Lesotho
The Central Bank of Lesotho is the principal monetary authority in Lesotho, responsible for maintaining monetary and financial system stability to support balanced macroeconomic development. The Bank is committed to fostering a robust and resilient financial ecosystem conducive to sustainable economic growth and prosperity.
About PayLogic
PayLogic is a leading payment technology solutions company specializing in providing innovative and secure payment solutions to financial institutions and organizations worldwide. With a focus on interoperability, efficiency, and customer experience, PayLogic empowers its clients to enhance their payment ecosystems and drive digital transformation.
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