Cash is not king
Reserve Bank in big push for new payments regime
Central bank says managing cash costs economy R30bn annually
27 June 2025 - 05:00
The SA Reserve Bank is pushing for an overhaul of the country’s payments regime with non-banks set to enter the clearing and settlement system in a move that will see the hegemony of the traditional banks further challenged by fintechs.
For this to happen, the regulations governing SA’s payments landscape will need to be changed, a task that Tim Masela, head of the SA Reserve Bank’s national payment system department, said the Bank was engaged in...
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