BankservAfrica partners with SARB to transform digital payments ecosystem
BankservAfrica has announced a collaboration with the South African Reserve Bank (SARB), which aims to transition the company into a national Payments Utility.
According to BankservAfrica, this initiative is set to involve commercial bank shareholders and marks a significant step towards modernising South Africa's payment infrastructure.
While still subject to final transaction agreements and regulatory approvals, the partnership’s goal is to enhance the security, inclusivity, and efficiency of the country's payment system.
BankservAfrica’s CEO says: " “our role has always been to provide essential payment services to financial institutions. This consequential partnership between the company, its commercial bank shareholders, and the SARB, signifies both a continuation and expansion of that role as we focus more deliberately on financial inclusion through affordable access to modern payment capabilities.”
A key offering under the new Payments Utility will be PayShap, a service launched in March 2023 that facilitates instant payments.
Further details on the transaction will be disclosed once contractual and regulatory processes are complete. This partnership is set to reshape South Africa's digital payment landscape for the future, the group said.
FSCA warns public about unauthorised financial service providers.
The Financial Sector Conduct Authority (FSCA) has issued a warning to the public about individuals and entities fraudulently claiming to be authorised or licensed by the FSCA.
The FSCA says it cautions that certain individuals are engaging in unauthorised financial services activities while misleading the public with false claims of FSCA authorisation.
Among the individuals under suspicion are:
Balla Jeno
Kosir Ziga
Sandus Brunkevics
Bertolucci Florentin
According to the FSCA, these individuals are concealing their illegal activities by displaying FSP authorisation numbers that have been cancelled, lapsed, or rejected.
“They often use fake “certificates” and “license numbers” to mislead consumers, promoting investment or trading offers through social media platforms.
“The FSCA advises the public to be cautious when receiving unsolicited investment or trading offers, especially on social media,” it said.
To protect themselves, consumers should:
- Verify that the individual or entity is authorised by the FSCA.
- Confirm the FSCA registration details match the FSP number provided.
- Check the category of advice the individual is qualified to give, ensuring it aligns with the complexity of the product being offered.
For more information, the FSCA urged consumers to always refer to its official database.
Kwikspace Expands national reach with new branch in Bethlehem
Kwikspace, a provider of prefabricated building solutions, has opened its twelfth branch in Bethlehem, Free State.
Bethlehem was chosen as a strategic location due to its central position, serving as a gateway to key regions such as the Free State and KwaZulu-Natal. The new branch is poised to support a wide range of sectors, including agriculture, construction, and education, providing tailored building solutions to meet the needs of diverse industries.
In addition to expanding its service reach, Kwikspace’s Bethlehem branch plays a significant role in local economic development. The branch is staffed by a team of local employees, reinforcing the company’s investment in Bethlehem’s growth and regional empowerment. Beyond job creation, Kwikspace says it is committed to fostering strong local partnerships, continuing its ethos of collaboration and community involvement.
PERSONAL FINANCE