This article specifically focuses on Recommendation 13 which looks at expanding the retail payment services /activities allowed by non-bank participants (including e-money and mobile money) and the direct participation of non-banks in clearing and settlement.
As the payments industry moves towards the digital age and becomes increasingly innovative, and financial technology becomes more advanced, the development of new payment methods, technologies, services, risks, participants and ‘payment systems’ have become increasingly prominent and a challenge to the traditional payments regulatory landscape. It follows that the accompanying regulatory and legislative framework needs to be flexible and adaptable to these developments and provide an enabling environment which fosters innovation.
The article unpacks the following topics:
South African Payments Landscape
o Non-bank Permitted Payment Activities
o Mobile Money
o Clearing and Settlement
Unpacking Recommendation 13
Deloitte’s Payments team provides an end-to-end capability that can enable companies to offer a wide range of alternative delivery channels and enhance customer experience. Our Payments professionals have deep industry experience and knowledge to help you achieve your business goals. Connect with us for more.
The acceleration of the players in the South African payments' ecosystem webinar