With a view to furthering facilitation of cross border transactions in the region, the Bank will be a participant and the settlement bank in the Regional Payment and Settlement System (REPSS) of the COMESA Clearing House. The MACSS represents the main architecture for local electronic payments involving the Bank of Mauritius, banks, government and large taxpayers.
This core application, which is based on international best practice, was recently replaced. It provides for advanced queue management for liquidity purposes, enhanced security, increased availability and reduced transaction costs. The application is very versatile, allows for multi-currency transactions to be effected and provides a single platform for local and cross border payments.