VARIOUS PAYMENT SYSTEMS
The 4 key payment systems in South Africa are as follows.
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.
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.
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.
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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