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Notice: as of 1 October the new 3D version 2.0 (3Dv2.0) will start to be used by the banks. 3D is the security system often used when an online purchase is made. The present 3D system requires the buyer to respond to their bank with an OTP number which is sent to them by SMS. The new system will use artificial intelligence to reduce the times that the buyer will be sent an OTP number. OTP numbers will still be used but much less frequently.

EFSA - Protecting your rights as an ecommerce business and expressing your needs to the relevant government departments and opinion formers

SARB has issued a consultation paper on Sort-at-Source

SARB issued a new consultation paper on sort at source in September with a 15 October deadline for comments. The EFSA Online Payments Committee, chaired by Thomas van der Spuy of Callpay, will be meeting to consider a response. Sort at Source is the practice of sorting payment instructions based on multiple holders of destination accounts and submitting such payment instructions directly to the holders of the destination accounts or requesting clients to pay directly into specific accounts, therefore, bypassing the clearing system.

SARB has also completed its investigation into interchange payments (the payments made by banks for transfers of payments when a purchase of a product is passed from the buyer’s bank to the seller’s bank). SARB will be holding a meeting of stakeholders on 19 October to announce its findings. EFSA pointed out in our submission that (1) this charge was very opaque (2) AI risk analysis did away with most of the risk when transferring between the acquiring banks.

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