CLEARING HOUSE
BankservAfrica to overhaul SA’s payments landscape amid the digital advances
Modernising SA’s payments infrastructure to keep it up to speed with the digital economy and promote financial inclusion is BankservAfrica’s 2018 focus. "I hope that by the end of 2018 we have a sense of what technology we’d like to use," said Martin Grunewald, the acting chief payments officer of the continent’s biggest payments-clearing house. "There’s a definite realisation that SA can’t stay on the same old track," said Grunewald. Design-phase talks were being held with bank executives and the Payments Association of SA on what the future payments architecture should look like, said BankservAfrica chief operating officer Emile Burger. Affordable and accessible payments services are increasingly seen as a precondition to promoting financial inclusion. In October, the Bill & Melinda Gates Foundation released open-source software for creating payment platforms that will help unbanked people access digital financial services. Financial inclusion features prominently in the South Afr...
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