--- title: Banks to lose their grip on South Africa’s payments system description: South Africa's Reserve Bank will open the national payments system to non-bank operators, including telecoms, fintechs, and retailers, from mid-2027, ending... canonical: https://daily.dev/posts/banks-to-lose-their-grip-on-south-africa-s-payments-system-8mwaiskym twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Banks to lose their grip on South Africa’s payments system | daily.dev og:description: South Africa's Reserve Bank will open the national payments system to non-bank operators, including telecoms, fintechs, and retailers, from mid-2027, ending... og:url: https://daily.dev/posts/banks-to-lose-their-grip-on-south-africa-s-payments-system-8mwaiskym og:image: https://api.daily.dev/og/posts/8MWaiSKYM.png og:image:alt: Banks to lose their grip on South Africa’s payments system og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Banks to lose their grip on South Africa’s payments system **[TechCentral](https://daily.dev/sources/techcentral)** · 4 min read · 0 upvotes · 0 comments ## Summary South Africa's Reserve Bank will open the national payments system to non-bank operators, including telecoms, fintechs, and retailers, from mid-2027, ending banks' exclusive control over payment processing infrastructure. Under the National Payment System Bill, non-banks will be licensed by March 2027 to carry out seven payment activities independently, such as issuing e-money, acquiring merchants, and payment initiation. The reform is part of the broader Payments Ecosystem Modernisation programme, which also includes a standardised QR+ payment code, white-label ATMs, and a national cash utility aimed at lowering transaction costs, reducing cash dependence, and expanding access to digital financial services for underserved consumers. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [South Africa’s ATM network faces its biggest overhaul in decades](https://daily.dev/posts/south-africa-s-atm-network-faces-its-biggest-overhaul-in-decades-zvt5qhmlp) · TechCentral · 0 upvotes · 0 comments - [The clock is ticking on South African banks’ biggest advantage](https://daily.dev/posts/the-clock-is-ticking-on-south-african-banks-biggest-advantage-0aybghkzf) · TechCentral · 0 upvotes · 0 comments - [End of an era for South Africa’s payments system](https://daily.dev/posts/end-of-an-era-for-south-africa-s-payments-system-axdsqr5fn) · TechCentral · 0 upvotes · 0 comments - [If it quacks like a duck: Kganyago on regulating fintechs](https://daily.dev/posts/if-it-quacks-like-a-duck-kganyago-on-regulating-fintechs-0awwaoxch) · TechCentral · 0 upvotes · 0 comments --- Tags: [#fintech](https://daily.dev/tags/fintech), [#regulation](https://daily.dev/tags/regulation) [View this post on daily.dev](https://daily.dev/posts/banks-to-lose-their-grip-on-south-africa-s-payments-system-8mwaiskym) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Banks to lose their grip on South Africa’s payments system","url":"https://daily.dev/posts/banks-to-lose-their-grip-on-south-africa-s-payments-system-8mwaiskym","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/banks-to-lose-their-grip-on-south-africa-s-payments-system-8mwaiskym"},"datePublished":"2026-10-19T05:21:59.851Z","dateModified":"2026-10-19T05:22:17.264Z","description":"South Africa's Reserve Bank will open the national payments system to non-bank operators, including telecoms, fintechs, and retailers, from mid-2027, ending...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/d803e3597e186819bc113080bbccba8f?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/d803e3597e186819bc113080bbccba8f?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"TechCentral","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"TechCentral","logo":"https://media.daily.dev/image/upload/s--RsqLDZrL--/f_auto/v1717745297/logos/techcentral","url":"https://daily.dev/sources/techcentral"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/banks-to-lose-their-grip-on-south-africa-s-payments-system-8mwaiskym","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"fintech,regulation","timeRequired":"PT4M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"TechCentral","item":"https://daily.dev/sources/techcentral"},{"@type":"ListItem","position":3,"name":"Banks to lose their grip on South Africa’s payments system"}]} ```