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South Africa
Real Time Clearing (RTC)
Scheme name: Real Time Clearing (RTC)
IIPS Type: Bank
Instruments: Credit EFT
Channels: Browser , Apps , POS , ATM , Branch
Use cases: Transfers & remittances (P2P) , Merchant payments (P2B) , Business purchases (B2B) , Salaries & wages (B2P)
Inclusivity level: Basic
Year of establishment: 2006
System owner: BankservAfrica
Overseer: South African Reserve Bank
Operator: BankservAfrica
Total Participants: N/A
Volumes 2021: 94,000,000
Values 2021: 60,123,713,411 USD
Back to mapCategory | Real Time Clearing (RTC) |
---|---|
Geographic reach | Domestic |
Geographic description | South Africa |
Scheme governance | Payments Association of South Africa |
Settlement agent | South African Reserve Bank |
Participants - commercial banks | N/A |
Participants - MMOs | N/A |
Participants - non-bank PSPs | N/A |
Participants - MFIs | N/A |
Volumes 2018 | 31,390,000 |
Volumes 2019 | 49,000,000 |
Volumes 2020 | 79,000,000 |
Volumes 2021 | 94,000,000 |
Values 2018 | 24,131,219,702 USD |
Values 2019 | 25,748,220,000 USD |
Values 2020 | 50,000,000,000 USD |
Values 2021 | 60,123,713,411 USD | Governance Typology | Private association | Messaging standard | ISO 8583 |
Types of proxy IDs | N/A |
Use of open APIs | No |
QR code standard | No |
Pro-poor governance | Oui |
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