South Africa a step closer to getting a national payments utility

South Africa a step closer to getting a national payments utility

The Competition Commission has recommended that the Competition Tribunal approve the South African Reserve Bank’s proposed acquisition control of BankservAfrica – and has done so without attaching any conditions. The transaction will see the central bank take sole ownership of the payments clearing house, which plays a critical role in processing interbank transactions. BankservAfrica is…

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ACI’s advanced payment solutions enable real-time payments without the risk

ACI’s advanced payment solutions enable real-time payments without the risk

Judy Winn Combining AI, ML, network intelligence and next-generation payment hubs can reduce risk in real-time payments, according to payments experts at the ACI Worldwide Payments Intelligence Roadshow, in Johannesburg. Outlining trends in global payments and new risks inherent in instant payments, ACI Worldwide experts noted that technologies such as cloud native payment hubs, advanced…

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EFTs may go in Reserve Bank payments overhaul

EFTs may go in Reserve Bank payments overhaul

Reserve Bank govenor Lesetja Kganyago The South African Reserve Bank has released a position paper outlining how it intends carrying out its national payments ecosystem modernisation programme. According to Reserve Bank governor Lesetja Kganyago, the programme’s objectives include developing and establishing a national payments utility, increasing competition, and ensuring cash is no longer the only…

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Payment trends and APP fraud prevention in the spotlight at ACI World Payments Intelligence Roadshow

Payment trends and APP fraud prevention in the spotlight at ACI World Payments Intelligence Roadshow

APP scam losses are on the rise, according to ACI Worldwide’s latest Scamscope report. Amid an ever-changing payments landscape, real-time payments are booming, offering significant value for financial institutions. At the same time, Authorized Push Payment (APP) scam losses are on the rise. To unpack these and other key trends in payments and fraud prevention,…

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