South Africa to open payments system to retailers, telecoms, fintechs in 2027

Starting in mid-2027, South Africa will allow non-bank entities such as telecoms, fintechs, and retailers direct access to its national payments system, ending banks' intermediary role. This reform aims to increase competition, lower costs, broaden digital financial service access, and encourage innovation, alongside planned initiatives like a national cash utility and white-label ATMs.

This Wire brief sits within Fusion42's coverage of Fintech, and 4 sources have reported it.