National Payment System Act, 1998 (Act No. 78 of 1998)

Notices

Designation of Retail Assist (Pty) Limited

1. Introduction
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1.1 The South African Reserve Bank (SARB) is empowered to designate a clearing system participant in terms of section 6(3)(a) of the National Payment System Act 78 of 1998, as amended (NPS Act). Such designation may be made if the designation is in the interest of the integrity, effectiveness, efficiency and/or safety of the national payment system (NPS).

 

1.2 The objective of this Designation Notice is to designate Retail Assist (Pty) Limited (Retail Assist) as a clearing system participant. The designation would enable Retail Assist to clear payment instructions in the manner contemplated in section 4(2)(d)(i) of the NPS Act.