South Africa | Term 2 | June 2016

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South Africa l Term 2 l June 2016

Dear Real Pay User

In the blink of an eye the first term of the financial year has sped by. The rushing river that is the payments industry is taking new turns and carving out new paths in the ever-changing economic landscape.

Staying well informed is crucial to making financial progress; therefore, it is important to take note of the following information.


AC sessions

Real Pay management and regional representatives presented an Introduction to Authenticated Collections road show during April and May. These crucial sessions were primarily presented by our management team and constructed by the available industry information and User questions.

We would like to thank all our loyal Users who traveled vast distances to attend these sessions.


AC update

Industry entered a contingency phase in AC requiring a review of the implementation approach. The industry-agreed approach will be presented for approval to the SARB. Real Pay will update Users on the management of the transition phase once the approval process has been concluded and feedback obtained through the payments regulatory structures. In the interim, the momentum on the AC project is maintained with development continuing directly in liaison with our sponsoring banks.


Upcoming events

We would like to remind all Users of the following regional industry events taking place in the country:
Tuesday, 7 June – MFSA in Cape Town
Tuesday, 14 June – Excalibur Channel Partner Event in Durban
Wednesday, 20 July – Excalibur Channel Partner Event in Nelspruit


Compliance

At Real Pay, we place a very high premium on safeguarding the integrity of the NPS and maintaining the highest standards in regulatory compliance. We would like to thank our Users for the excellent co-operation we are receiving in this regard. Many Users make compliance a priority, recognising the significance of regulatory oversight. We urge all Users to read and implement the documents listed below.

The following documents are available on the Real Pay Collect Site, www.realpaycollect.com:

  • The Debit Order Abuse Rules (DOA) approved by PASA Council
  • The NAEDO Terms of Use of the Banks
  • Real Pay Terms and Conditions

Kindly familiarise yourself with the DOA process and rules. As indicated in the Compliance Notice dated 27 May 2016, this process and rules are effective from 3 March 2016, which implies that penalties can be imposed retroactively from 3 March 2016. These rules emphasise the importance of the provisions of the Terms of Use of the Banks.

Users will be able to view the Terms of Use with the bank that holds their settlement account.

The latest version of the Real Pay Terms and Conditions (Contract) is also made available for easy reference. We will notify Users via system messages and newsletters, should any additions be made to the contract.

Please take note of our standard Compliance Facilitation Fees that is also indicated in the Compliance Notice. Our Compliance Department strives to keep all Users compliant with industry rules and regulations.

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Real Pay social responsibility
At Real Pay, we believe in investing in our communities and we work closely with two organisations in our area. Transforming Kids is a faith-based organisation building life skills and leadership into the lives of children in the greater Pretoria area. The Loerie Huis offers the children who live there a safe, homely environment where they have emotional, educational and spiritual support and can grow to perform academically and extramurally.

We are proud to be associated with organisations that actively contribute to the betterment of our future generations.


Invoice date reminder
Please take note that monthly invoices are sent out, in arrears, on the 1st day of every month and payment is due on the very next day (2nd day of the month). The Finance Department would appreciate you planning accordingly, as you are able to view updates daily under Management Report.

Click on Management Reports > Client Billing > Client Billing Branch.

Should you require further information regarding products, events or the Real Pay system, please contact your relationship manager or our Support Centre on 083 230 3847.

Regards

The Real Pay Team

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