South African Reserve Bank Sets Payment Milestones Through 2027

The South African Reserve Bank has set milestones through 2027 to expand access to its payment system and address PayShap’s adoption gap, as the instant-payment service remains well below card and bank-transfer volumes. South African Reserve Bank Governor Lesetja Kganyago outlined the schedule at a conference in Pretoria on Oct. 20. The bank plans to publish an Authorisation Framework by the end of November 2026, a proposal that would allow appropriately regulated nonbanks to conduct specified payment activities. The framework would define which activities eligible nonbanks could perform. Proposed requirements include governance, customer-fund safeguards, operational resilience and reporting.

Source: TokenPost