SADC Low Value Credit Transfer Payments

Work groups comprised volunteers from the interested banks and MPSPs and met several times in person and via eMeetings through 2016 and early 2017. These interactions led to greater understanding of the key concerns and challenges of the different parties. The following outlines the work group’s key recommendations as this paper went to publish.

The paper provides a set of questions under each principle to help countries or regulators gauge their alignment to the proposed principle. The paper has been made available to SADC regulatory body (PSOC) for finalization and approval. As such, the work group recommends that any organizations authorized or licensed to clear payment transactions and/or provide payment services in a country should organize themselves into a group or association and ensure that they are suitably represented at payments associations or association work group levels. Such participants can be banks or non-banks. This recommendation is being provided to the SADC Payments Oversight Committee (PSOC) for review and approval.

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