The
SADCBA
identified
10 payment
streams that
needed to
be worked
on in the
project.
Work groups have been constituted in support of the activities of each work stream.
These work streams are required to define the business models that banks will adopt to send
payments to each other cross border. They will also define and agree on the rules, processes
(including exception handling) once the system goes live.
PAYMENT STREAMS
• Credit Transfers for Immediate Settlement: Which are normally effected through a Real
Time Gross Settlement System (RTGS)
• DVP: The cash leg of stock market trades, example the P of the DVP in the delivery vs
payment process.
• Forex Financial Markets: The cash settlements of other financial market transactions such
as Money Market instruments, Bond Market trades, inter-bank foreign exchange deals etc.
• EFT Credits & Debits: Low value
payments normally processed in bulk
electronic funds transfer credits;
• Direct debit (collections): In support of
utility bill payments etc;
• ATM: Cross-border cash withdrawals;
• Cards: Issued to SADC card holders and
used within SADC;
• Cheques: It is anticipated that these
will be phased out in the cross border
environment;
• Cash: Bulk ordering and repatriation of
bank notes;
• P2P: Low value urgent transfers in support
of person-to-person type transactions as
well as other commercial type payments.
Efforts on the project are progressing well
and it is envisaged that testing will begin
in the first quarter of 2013. ■
Juliet Kairuki is general manager:
SADC, Banking Association South Africa
For further information call 011 645 6700 or
e-mail [email protected]
Edition 2
THE BANKER
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