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BankservAfrica reports new e-payments record

JOHANNESBURG – BANKSERV-AFRICA has reported a new record on electronic fund transfer (EFT) payments by processing over 100 million EFT credit payments in October.

“The total of 101 million transactions – six million more than in September – represents a major milestone in the history of BankservAfrica’s processing of interbank EFT credit payments,” said Martin Grunewald, BankservAfrica Chief Business Officer.

A further milestone was achieved in the Real-time Clearing Service where the 20 million transaction mark was exceeded for the first time during the month of October.

In the same month, 103 million debit card transactions were processed surpassing the 100 million monthly transactions mark, for the first time.

Grunewald notes these electronic payments have ensured a secure and seamless payments experience for many consumers and businesses.

“These demonstrate BankservAfrica’s capabilities and experience for an always-on payments service that is responsive to the growing demand of electronic payments in South Africa.”

BankservAfrica is the payments partner and financial markets infrastructure (FMI) to the financial services industry.

It celebrated 50 years as a partner to the banking industry in June 2022.

– CAJ News

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