Regulation of the payments system of South Africa

Abstract

This paper discusses issues pertaining to the establishment of an appropriate regulatory framework to enhance competition, access and transparency in the payments system in South Africa. These are issues which are being considered in a number of countries and so the paper relates the international experience primarily from the UK and Australia to the situation in South Africa. In particular the paper discusses the role of utility-style regulation and methods which can be used to assess and develop policy to engender an appropriate regulatory framework for the payments system in South Africa.