Evergreen · updated as it moves
The rules are changing in your favour.
The SARB is opening clearing and settlement to non-bank PSPs. That means more providers, lower costs and new payment methods from 2026 onward. Here is the state of play, and what each step means for merchants.
Last updated Aug 2026
Regulatory status as reviewed on 1 August 2026. Current law and published standards are separate from draft proposals and editorial outlook. Drafts may change, be delayed or never take effect; verify the linked regulator material before relying on a status.
The timeline
Where the rails are heading.
PayShap goes live
BankservAfrica launches the real-time payment scheme with proxy IDs (ShapID) and request-to-pay. The per-transaction limit was later raised to R50,000. For merchants: a faster, cheaper alternative to cards, though consumer uptake is still building.
NPS 2030+ consultation published
The SARB sets out the next phase of the Payments Ecosystem Modernisation programme, continuing the Vision 2025 agenda. For merchants: signals the direction of travel, more competition and lower processing costs.
Draft Authorisation Framework consultation closed
The May 2026 activity-based authorisation framework and related notices were published for consultation. They are proposals, not current licences or final law, and may change before implementation.
QR+ Standard 1.2 published
SARB published the QR+ Standard version 1.2 overview for interoperable domestic QR payments. Publication of the standard does not mean every wallet or merchant is already interoperable; implementation and participant readiness still matter.
Possible direct non-bank authorisation
The draft framework proposes activity-based authorisation for some non-bank payment institutions. No provider should be described as having a future licence, and no implementation date or market outcome is guaranteed until final instruments are issued.
New pre-funded fast payment system
A real-time settlement system designed for fintech and non-bank participation, extending PayShap, plus SADC cross-border via TCIB. For merchants: real-time money movement across the region, not just within one bank.
The vocabulary
Key terms, in plain language.
- PEM
- Payments Ecosystem Modernisation, the SARB programme reshaping who can operate payment rails and how they clear and settle.
- NPS
- National Payment System, the framework and the pending reforms that open direct participation to non-bank institutions.
- PayShap
- The real-time payment scheme with proxy identifiers (ShapID) and request-to-pay, capped at R50,000 per transaction.
- QR+
- The interoperable domestic QR-payment standard whose version 1.2 overview SARB published on 7 July 2026; implementation is not the same as universal live acceptance.
- Authorisation Framework
- A May 2026 draft activity-based model published for consultation. It is not final law and does not itself authorise a provider.
- TCIB
- The SADC real-time cross-border scheme, being repositioned so domestic instant-payment systems can connect directly.
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