Modernisation Dark Clear

Payments modernisation is a key driver in the future digital economy

But uprooting a payments infrastructure that has been in place for 50 years and works is not something that can be taken lightly.

We want to start having the conversations with you about the need for a modernised payments system in South Africa. But first – we need some concrete evidence to support the need.

Let’s start talking!

Armed with the understanding that we need to start embracing the digital economy and stay globally competitive. We, as BankservAfrica and PASA, have partnered in our quest to garner a better understanding of what a modernised payments infrastructure looks like. What it should do for the economy, and what the goals of modernisation should be.

The facts

It is with this that we commissioned global research house Lipis Advisors and local partner IQ Business Group, contracting them to conduct research into the importance of the modernisation of payments infrastructure.

The research is aimed at creating an understanding of the current international payments landscape and the likely future needs of the South African payments system. This research was conducted with payments industry players and stakeholders across ten countries, including South Africa.

The final research offers a view of the needs of South Africans and synthesises them to help identify best practices and possibilities for the future of payments in South Africa. Concrete recommendations for the South African market were not in the scope of the research.

The research is now being made freely available from BankservAfrica and PASA for download.