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Overview
The financial industry — the cornerstone of our economy — is changing, and payments are at the centre of it all. Six macro trends are impacting the future of payments for individuals, businesses, and payment facilitators.
We assist clients in preparing for the future of payments and digital identity while maintaining their current operations. Our values-driven team drives change and makes an impact in Africa. We have been particularly involved in some of South Africa’s key modernisation initiatives:
- PayShap / Rapid Payments Programme (RPP): We supported the national payment system operator, BankservAfrica, and the broader payment industry to introduce a real-time proxy payment system, called PayShap, which is aimed at reducing the use of cash and driving broader financial inclusion in South Africa. Read more about the PayShap / Rapid Payments Programme here.
- Payments Industry Body (PIB): We supported the Payments Association of South Africa (PASA) to facilitate the co-design of a new, fully inclusive industry body representative of all payment stakeholders. The establishment of a new PIB is in support of the South African Reserve Bank (SARB) Vision 2025 goals, which include interoperability, inclusivity, collaboration and cooperation. Read more about the PIB here.
- Digital Identity Programme: We supported BankservAfrica in a collaborative effort involving a consortium of banks, fintechs, regulators and associations in its journey of unpacking South Africa’s digital identity journey to date as the industry strives to create a digital identity for South Africa. Read the Digital Identity: A South African Journey report here.
Issues you may be facing
Rising customer expectations
Aligning with regulatory change
Keeping up with emerging technology
High cost of legacy infrastructure
Extracting benefits from customer data
Customer privacy and security
Differentiation in the market
Operational inefficiencies
How we can add value
The Payments Transformation practice consists of a team of experts with local and global payment and digital identity experience who have both the theory and the hands-on experience in not only creating strategies, but implementing them in real-life scenarios. Payments transformation requires not just the strategy but the ability to implement the strategy, and our team is able to assist you across the following focus areas:
- Strategy and payment operating model
- Operations
- Payments innovation
- Payments modernisation
- Regulatory and ecosystem strategies
Strategy and payment operating model
Competitive analysis and benchmarking
Business model and strategy development
Operating model development
Product and pricing strategy
Market assessment
Operations
Operations transformation
Payments processing improvement
Payments innovation operationalisation
Payments innovation
Disruptive technologies
Cryptocurrencies and digital currencies
Platform innovation
Embedded finance
Solution design
Digital identity
Payments modernisation
New payments architecture implementation
Fintech alliance propositions
Large-scale technology transformation
Cross-border payments
Instant payments
Strategic programme management
Regulatory and ecosystem strategies
Policy and regulation advisory
Ecosystem enablement
Alliances and partnerships
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South African Payments industry collaborates to bring South
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Contact us
Partner | Payments Transformation Leader, Strategy& South Africa
Tel: +27 (0) 66 229 1202
