The PSMB’s recognition is being withdrawn. Rule-making will move mainly to the SARB and PayInc; licensing, authorising and registering payment institutions will move to the SARB.

The transition will strengthen the regulatory, supervisory, oversight and operational architecture and arrangements of the NPS that support safe, efficient and resilient payments in South Africa. The completion date is 2 September 2026.

What is changing?

From 11 August 2026, the PCH SOs, SOSs and TPPP authorisation and registration functions and capability will transition to the SARB

What remains valid?

Existing authorisations and registrations remain valid unless SARB determines otherwise, or until future framework requirements apply.

What must stakeholders do?

• Use the relevant SARB contact channels from 11 August 2026 for applications, renewals and enquiries.
• Continue pending applications with SARB.
• Monitor SARB updates for revised criteria and the Authorisation Framework.

Payment Clearing House System Operators (PCH Sos), System Operators (Sos):

1.       Validity of Existing Authorisations

•  All authorisations previously granted to PCH SOs and SOs prior to the 11 August 2026 and withdrawal of PASA's recognition as a PSMB will remain valid and effective unless otherwise determined by the SARB.
• This provision also applies to authorisations that are due for renewal or re-authorisation during the transitional period, ensuring continuity for entities operating within the NPS.
• The SARB will publish the official list of authorised PCH SOs and SOs on its website by 11 August 2026. Stakeholders should note that from 11 August 2026, all correspondence and communication relating to authorisations must be directed to the following email addresses:
  • PCH SOs: PCHSO@resbank.co.za
  • SOs: SO@resbank.co.za

2.       Pending Authorisation Applications

• All applications submitted prior to 11 August 2026, regardless of their current stage in the assessment process, will continue to be processed by the SARB.
• To facilitate a smooth and an orderly transition, former PASA employees currently involved in the authorisation process will transfer to the SARB and continue to support the processing of such applications at the SARB.   For these pending applications, the established PASA Entry and Participation Criteria for Authorisation to Act as a Payment Clearing House System Operator, as well as the Criteria for Authorisation to Act as a System Operator, will remain applicable throughout the transition period.
• From 11 August 2026 onwards, applicants must submit all relevant correspondence and documentation relating to pending or ongoing applications to the following email addresses:
  • PCH SOs: PCHSO@resbank.co.za
  • SOs: SO@resbank.co.za

3.       New Authorisation Applications

• From 11 August 2026 onwards, all new applications for PCH SO and SO authorisations must be submitted in accordance with the PASA criteria outlined in paragraph 3.2.2. These criteria will remain in effect for all new applications until such time as the SARB issues revised criteria for PCH SOs and SOs.
• Once the SARB has published its own criteria for PCH SO and SO authorisations on its official website, the SARB's criteria will supersede the PASA criteria. The SARB will provide notification regarding the publication of these new criteria to ensure all applicants are informed of the updated requirements.

Third-Party Payment Providers (TPPPs):

1.       Validity of Existing Authorisations

• All TPPP registrations, including registrations that are due for renewal or re-registration, granted prior to the withdrawal of PASA's recognition shall remain valid and effective, until the SARB publishes the Directive in respect of Specified Payment Activities within the National Payment System (Authorisation Framework), which will include new requirements for TPPP authorisation. Upon publication of the Authorisation Framework, the transitional arrangements contained therein will apply.
• The SARB will publish the list of registered TPPPs on its website by 11 August 2026.

2.       Pending registration applications

• Registration applications that are currently processed as of 11 August 2026 will continue to be processed by the SARB.
• To facilitate an orderly transition, former PASA employees currently involved in the registration process will transfer to the SARB and continue to support the processing of such applications at the SARB.
• The PASA TPPP registration requirements applicable to the banks and TPPPs will continue to apply to these applications. Applicants must submit all relevant correspondence and documentation to TPPP@resbank.co.za

3.       New registration applications submitted before the publication of the Authorisation Framework

• All new applications for TPPP registrations submitted on or after 11 August 2026 must comply with the PASA TPPP registration requirements, until the publication of the Authorisation Framework.

4.       New registration applications submitted after the publication of the Authorisation Framework

• Any new application submitted after the publication of the Authorisation Framework must comply with the requirements prescribed in the Authorisation Framework.

5.       Historic authorisation and registration information

All historic authorisation and registration information submitted to PASA as at 11 August 2026 will be transferred to the SARB as part of the transition arrangements. Applicants that have submitted the relevant information prior to the transition date will not be required to resubmit such information, unless the SARB determines that additional or updated information is required.

6.       Additional authorisation and registration information

Any information relating to the authorisations and registrations will be communicated to stakeholders accordingly.