Quick answer

PASA — the Payments Association of South Africa — is the industry body recognised by SARB to manage the rules and standards governing inter-bank payment streams. It coordinates between settlement participants, defines clearing rules, runs working groups, and is in transition under the PEM Programme toward a Payments Industry Body (PIB) model.

What PASA is

PASA is a non-profit industry body whose members are the settlement participants of the South African National Payment System — primarily commercial banks. SARB recognises PASA as the Payment System Management Body under the NPS Act, with delegated authority to manage payment-stream rules, technical standards, and dispute resolution among members.

What PASA actually does

  • Maintains the rule books for payment streams (EFT, DebiCheck, RTC, PayShap, card, ATM).
  • Coordinates settlement-side and clearing-side rules with SARB and BankservAfrica.
  • Hosts working groups on modernisation, fraud, and standards.
  • Manages the sponsored-clearing framework that allows non-banks to access settlement.

PASA vs SARB — who decides what?

SARB is the regulator and operator of the settlement layer; PASA coordinates the clearing-side rules among industry participants. Major changes — particularly those affecting systemic stability — typically require SARB sign-off, while operational and product-level rules are PASA's domain. The boundary is moving under the PEM Programme.

From PASA to a Payments Industry Body

SARB has signalled, in Vision 2030+ and supporting directives, an intention to replace the PASA model with a broader Payments Industry Body (PIB) that includes non-bank payment service providers as members. The transition is being managed through formal consultation and is expected to play out across the late-2020s.

TL;DR

  • PASA is the SARB-recognised industry body for payment-stream rules.
  • It runs rule books for EFT, DebiCheck, RTC, PayShap, card, ATM.
  • It is in transition to a broader Payments Industry Body under PEM.
  • SARB sets settlement-side rules; PASA manages clearing-side rules.

Frequently asked questions

Is PASA a regulator?

Not in the legal sense — SARB is the regulator. PASA is the industry-managed Payment System Management Body recognised under the NPS Act.

Who can join PASA?

Settlement participants under PASA's current rules; the model is broadening under the planned Payments Industry Body framework.

Does PASA set fees?

No — fee structures are typically set by individual participants or schemes, subject to competition law. PASA coordinates rules, not pricing.

Is PASA being replaced?

It is being reshaped into the Payments Industry Body, broader in membership, as part of Vision 2030+.

See also from our Comparison silo: RTGS vs EFT in South Africa: A Plain-English Guide and The Future of Bank Payments in South Africa (2026 & Beyond). For the foundations, return to the SAMOS homepage or browse the full Knowledge Hub.