Skip to content

News from Africa

SA Online Payment News

The banks, represented by BankServAfrica, have informed us that they will be prepared for Black Friday on 25 November. EFSA continues to follow up on the problems some e-merchants have experienced with Instant EFTs. This has in the past resulted in some buyers’ payments being reversed after the product was delivered, leaving the merchant out of pocket. The South Africa Rapid Payment Programme (RPP) has been slightly delayed, but banks are onboarding and the official launch in March 2023 looks as if it will go ahead. BankservAfrica is also developing the Transactions Cleared on an Immediate Basis (TCIB) which is being piloted for the SADC countries. The objective is to have a system for fast, efficient payments between the SADC countries, without recourse to the global currencies, and designed specifically to deal with small payments. As we have seen in this Newsletter, TCIB along with the Pan-African Payments and Settlement System (PAPSS) address the problem of remitting money across African frontiers which at present can be a slow, costly operation. Solving the problem was one of the African Free Trade Area (AfCFTA)’s first objectives.

Posted in

Dikonketso

1 Comment

  1. escape room on Jul 5, 2024 at 9:25 pm

    You actually make it appear so easy with your presentation but I find this topic to be actually something that I think I’d
    by no means understand. It seems too complicated and very broad for
    me. I’m taking a look forward to your next put up, I’ll try to get the cling of it!
    Najlepsze escape roomy



Leave a Comment





Become a member

Join the Ecommerce Forum South Africa and benefit from industry insights in South Africa and Africa.

Sign up to newsletter

Sign up to our newsletter and stay informed of the progress we are making at the Ecommerce Forum South Africa with government during Coronavirus.