Francois Groepe: The evolution of South Africa's electronic payment systems and the potential of fintech

Address by Mr Francois Groepe, Deputy Governor of the South African Reserve Bank, at the National Payment System Department's annual end-of-year cocktail function, Centrurion, 5 November 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Good evening, ladies and gentlemen, colleagues.

It gives me great pleasure to welcome you to the annual National Payment System Department's (NPSD) cocktail function.

This has been a year in which we had more reason to celebrate, as 2018 marked the 20-year anniversary of the South African Multiple Option Settlement (SAMOS) system. Also of significance was the fact that the Southern African Development Community (SADC) RTGS system, previously known as the SADC Integrated Regional Electronic Settlement System (SIRESS), turned five this year.