End of an era for South Africa’s national payments system

• The Payments Association of South Africa (PASA) has been transferred some of its functions, staff, and intellectual property to the South African Reserve Bank, marking the end of an era for South Africa’s national payments system.
• The transfer is part of ongoing reforms to modernise South Africa’s national payment system, ensuring it remains safe, efficient, innovative, and responsive to the needs of all users.
• The transition will not affect everyday payment services, including card payments, electronic transfers, debit orders, and automated teller machine (ATM) withdrawals, which will continue to operate as normal.