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Warning for big banks in South Africa | SA News


South Africa’s major banks could face even more competition in 2026 as the Reserve Bank plans to open up the national payments system (NPS) to entities without banking licences.

This change is expected to enable many more businesses, including some with significant customer bases, to offer digital payments and account transfers.

The NPS is a collective framework of rules, procedures, technologies, and institutions that enable the transfer of money between individuals and businesses.

Currently, the NPS is…

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