BankservAfrica seeks transition to payments utility through SARB collaboration
Settlements and payments services platform BankservAfrica intends to transition into a national payments utility through a significant industry collaboration with the South African Reserve Bank (SARB) and its commercial bank shareholders. The strategic partnership seeks to bolster efforts to modernise South Africa’s national payment system by making the payment system more secure, inclusive and efficient, but is subject to the conclusion of detailed transaction agreements and regulatory approvals, BankservAfrica says.