The SADC Payments Buzz
The SADC BA is pursing mobile payments, ahead of the other mechanisms, as part of its cross-border payment initiative. This strategy has the support of the Bill and Melinda Gates Foundation.
This year the SADC BA has worked with banks and mobile money service providers (MMSPs) and initiating proof-of-concept testing. In the first quarter of 2018, proof-of-capability tests will be conducted with the Regional Clearing House and the Regional Clearing and Settlement Operator, and two banks and two non-banks.
Each country has ‘payment leaders’ who represent SADC BA on the payments project. Members are urged to engage with these payment leaders and share information and updates, as both parties work to make the SADC BA Payment Strategy succeed.
Other cross-border transactions the SADC BA has been working on include:
- EFT Credits
- USD inclusion in SIRESS
- EFT Debits
- Debit Card