Quick answer

South African payments are heading toward instant-by-default rails, ISO 20022 as the messaging baseline, broader access to settlement infrastructure for qualifying non-banks, and active SARB exploration of central-bank digital currency. SAMOS remains the foundation throughout, modernised under the RTGS Renewal Programme.

Instant as the default

PayShap has set the consumer expectation: payments arrive in seconds. Over the late 2020s, instant settlement will spread to more use cases — bill payments, government disbursements, merchant settlement — pulling SAMOS toward more frequent settlement windows or a continuous model.

ISO 20022 as the standard

By the late 2020s, every domestic rail will be on ISO 20022. The richer data unlocks structured remittance, better reconciliation, and stronger fraud signalling.

Broader access to settlement

Vision 2030+ pushes toward tiered direct access. Qualifying non-banks will be able to interact with settlement infrastructure more directly, under risk controls calibrated to their activity.

CBDC and stablecoins

SARB has explored central-bank digital currency through Project Khokha and successor work. Whether or not a wholesale or retail CBDC launches, the design conversation is influencing how SAMOS evolves. Privately issued stablecoins are also on the regulatory radar; their interaction with SAMOS settlement is an open question.

Competition and the NPU

The National Payments Utility, when built, will reshape the competitive landscape — opening clearing functions to a broader set of players and changing the economics of payments operation in South Africa.

TL;DR

  • Instant payments become the default across consumer rails.
  • ISO 20022 becomes the messaging baseline.
  • Settlement-layer access broadens for qualifying non-banks.
  • CBDC, stablecoins, and the NPU all reshape the competitive landscape.
  • SAMOS modernises rather than retires.

Frequently asked questions

Will SAMOS run 24/7 in future?

The direction of travel is more frequent and resilient settlement windows. Full 24/7 RTGS would be a major architectural change still under consideration.

Is SA launching a CBDC?

SARB has explored CBDC through Project Khokha; no public commitment to retail launch as of mid-2026.

Will PayShap displace EFT?

Over time, instant rails are absorbing many EFT use cases, though batched EFT will likely remain the cheapest option for bulk credits.

What's the single biggest change in the next 5 years?

Industry consensus points to ISO 20022 going live across all major rails, with the NPU and broader access following in the second half of the decade.

See also from our Ecosystem silo: Clearing vs Settlement: What's the Difference? and SAMOS Settlement Schedule: Operating Hours & Windows. For the foundations, return to the SAMOS homepage or browse the full Knowledge Hub.