South Africa | Term 1 | March 2016
Dear Real Pay User
The Real Pay Team welcomes back all our users after a busy and productive festive season. We hit the ground running and can hardly believe that we are already dashing into the 2016/2017 financial year.
Real Pay values learning and growth, and we are looking forward to the year’s challenges and the exhilarating opportunities that lay ahead.
The local payments industry is abuzz with talk of the new payments stream, which the Payments Association of South Africa (PASA) is planning to launch on 1 October 2016, under the auspices of the South African Reserve Bank (SARB).
Authenticated Collections (AC) is poised to become the premier early collections stream, alongside and eventually replacing both NAEDO and AEDO over a period of three years. The phasing out of early debit orders will take place in a highly controlled manner and by strict regulatory standards, as set out by PASA, in a way that minimises risk to the National Payments System (NPS).
Real Pay, in conjunction with our two supporting banks, ABSA and FNB, is truly excited about the expansion opportunities the new payment stream will provide our users. We are working closely with both supporting banks in the development of Real Pay AC software for the various transaction types and are energised by the progress we have made over the past months.
Look out for AC newsflashes in the following months, with detailed information and updates on our progress.
First quarter planning
The team at Real Pay are looking forward to engaging with our clients and providing training and information regarding the current NAEDO system, the interim qualified early debit orders (QED) and AC mandates, transaction types and strategic implementation.
We will be inviting users to a series of information sessions and implementation workshops on a regional basis, starting in April. Attending these sessions is of great importance. Please take note of anticipated dates in the AC news flash and contact your relationship manager should you require further assistance.
Save the date
Micro Finance South Africa
Real Pay will be attending regional contact sessions with MFSA:
- 10 March – Polokwane
- 10 May – Bloemfontein
- 12 May – Durban
Venues have yet to be confirmed. Please contact your relationship manager for more information.
Debt Collection – Excalibur
Real Pay and our integrated partner, Excalibur, will be hosting various debt collection industry information sessions in major city centres. Venues will be confirmed closer to the dates.
- 13 April – Johannesburg
- 4 May – Cape Town
- 14 June – Durban
- 20 July – Nelspruit
Look out for an e-mail invitation or contact your relationship manager for more information.
Forecast and reflection
2016 represents a great milestone for Real Pay. The start of this year rang in a decade of Real Pay proving excellence in time-sensitive collections in Southern Africa. We are grateful to our many loyal clients, integrated partners and regulatory bodies. We appreciate your support and unwavering faith in Real Pay over the past ten years and look forward to a prolific 2016 and beyond.
The Real Pay Team