Tag: Electronic Funds Transfer (EFT)
Modernising debit orders – from EFT to RM
The evolution of South Africa's debit order landscape has marked a journey of significant milestones. The shift from the Registered Mandate Service (RMS) to the Registered Mandate (RM) payment stream requires businesses and consumers to understand its effects.
End of cheques a giant leap into digital payments future
Individual consumers and businesses will no longer be able to cash cheques in South Africa. This follows a joint announcement by the SARB, FSCA, PASA and BASA which confirmed that the issuing and acceptance or collection of cheques will cease from 31 December 2020.
