SARB opens national payment system to fintechs under new rules
- SARB extends access to the National Payment System to non-bank fintechs under its modernization strategy.
- Entry requires robust governance, capital adequacy, client fund segregation, and AML/IT compliance.
- SARB employs a proportionality framework to manage risks without stifling fintechs.
Tech In Africa - Aug 22, 2025
South Africa Opens National Payment System to Fintechs Under SARB Modernisation Drive
South Africa's financial ecosystem is undergoing a transformation as the South African Reserve Bank
The SARB's decision to include non-bank fintechs in the National Payment System is a progressive step towards enhancing financial inclusion in South Africa. However, the effectiveness of the proposed safeguards and their implementation will be crucial in ensuring that innovation does not compromise security and consumer protection.
