VARIOUS PAYMENT SYSTEMS
The 4 key payment systems in South Africa are as follows.
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South African Multiple Option Settlement (SAMOS) system is a high value realtime gross settlement (RTGS) system for domestic transactions – owned and operated by the SARB.
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BankservAfrica is a retail payment system that clears retail transactions and operates both nationally and within Africa. Strate (Pty) Limited as a Payment Clearing House System Operator, operates the large value payment system that clears the delivery and payment legs of equities, bonds, and money market transactions.
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The Southern African Development Community Real-time Gross Settlement System (SADC-RTGS) is a large value payment system that settles crossborder transfers that require immediate settlement within SADC. It is owned by SADC central banks and operated by the SARB.
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Continuous Linked Settlement (CLS) system is a large value payment system that settles foreign exchange transactions in designated currencies, including the South African rand.
FRAMEWORK AND STRATEGY
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