THOMAS PAYS: Payment system set to draw in SA’s underbanked
Rapid Payment Programme will help to get millions more transacting in the digital economy
A major change is coming to SA’s banking and payments sector. Known as the Rapid Payment Programme (RPP), this evolutionary banking concept aims to create a simpler, safer instant payment ecosystem that would give people the ability to make real-time payments using simple identifiers such as mobile numbers or e-mail addresses.
Led by BankservAfrica in collaboration with the Payments Association of SA (Pasa), RPP is the first of its kind in the country — unifying the entire banking sector under the common goal of broadening and modernising the industry to include those who had historically relied on cash as their primary payment method...