GIMAC, the regional organization responsible for promoting financial inclusion and interoperability in the CEMAC region, has partnered with PayLogic, a leading provider of cutting-edge payment solutions, to deploy a fully interoperable mobile switch. This collaboration aims to revolutionize the way transactions are conducted, drive financial inclusion, and facilitate seamless interoperability between banks, telecom operators, billers, electronic money issuers, and aggregators across the CEMAC zone.
The project aligns with the core strategy approved by the BEAC, the central bank of CEMAC, which emphasizes full inclusion and harnessing the power of mobile technology for payment purposes. With low banking penetration in the region, leveraging mobile solutions has become crucial to expanding financial access, enhancing transactions, and driving economic growth.
The implementation of the mobile switching solution, powered by PayLogic, will enable comprehensive interoperability across the CEMAC zone, including Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad. The solution encompasses various modules such as switching, fraud management, reporting, monitoring, ATM and POS management, fast payment, ISO20022 compliance, settlement and clearing, RTGS, chargeback management, and smart addressing.
“We are excited to collaborate with GIMAC to drive financial inclusion and seamless transactions within the CEMAC region,” said Mohamed Mekouar, Chairman of PayLogic. “Our advanced mobile switch solution will empower banks, telecom operators, fintechs, and other stakeholders to enhance their services, improve customer experiences, and promote economic growth in the region.”
By embracing this fully interoperable mobile switch, the CEMAC zone will experience a significant transformation in the way financial transactions are conducted. The solution will facilitate secure and efficient payments, empower individuals and businesses, and accelerate financial inclusion across diverse sectors.
About GIMAC: GIMAC (Groupement Interbancaire Monétique de l’Afrique Centrale) is a regional organization established to promote financial inclusion and interoperability in the CEMAC region. With a focus on leveraging technology to drive economic growth, GIMAC works closely with financial institutions, telecom operators, and other stakeholders to enhance financial services and facilitate seamless transactions across the region.
About PayLogic: PayLogic is a leading provider of innovative payment solutions, specializing in delivering secure and advanced technologies that transform the way financial transactions are conducted. With a comprehensive suite of modules, including switching, fraud management, reporting, and more, PayLogic empowers organizations to achieve full interoperability, enhance customer experiences, and drive financial inclusion. With a commitment to excellence and cutting-edge solutions, PayLogic is shaping the future of payments.