# The South African Reserve Bank is taking direct control of key regulatory and oversight functions previously handled by the Payments Association of South Africa. The changes, effective from today, form part of an overhaul aimed at modernising the national payment system and strengthening its safety and resilience. Remaining PASA functions linked to electronic funds transfers, DebiCheck, PayShap and real-time clearing will move to PayInc by 2 September. SARB says consumers and businesses should experience no disruption to payments or banking services.
The Reserve Bank takes over key payments regulatory functions