SARB Consults on Cross-Border Payment Facilitator Proposals

Posted 25 June 2026 Written by Acts Online
Category Financial Sector

Brought to you by SA Legal Academy: The South African Reserve Bank (SARB) has published two consultation papers proposing regulatory frameworks for cross-border payment facilitators operating under sponsorship arrangements with authorised domestic acquirers.

Under the National Payment System Act, No. 78 of 1998, and exchange control regulations, the SARB is seeking to establish a co-ordinated approach to regulating domestically aggregated e-commerce transactions. This framework targets transactions where South African consumers purchase goods, services, and digital products from offshore merchants through local payment facilitators.

The proposed regulatory measures are designed to achieve the following objectives:

  • Ensure effective oversight of payment models that span both the domestic payment system and cross-border foreign exchange channels.
  • Clarify the compliance and reporting obligations of authorised domestic acquiring banks that sponsor cross-border payment facilitators.
  • Address potential risks related to clearing, settlement, and capital outflows within the e-commerce payment ecosystem.

Stakeholders, including payment service providers, domestic acquirers, and compliance officers, are invited to submit written comments on the proposals. The deadline for submissions to the SARB is 17 July 2026.

What this means for you, your business, or your clients

  • For yourself: No direct individual compliance obligations; however, legal and compliance professionals must monitor these developments to advise on the intersection of payment system regulations and exchange controls.
  • For your business: Domestic acquiring banks must review their existing sponsorship agreements with cross-border payment facilitators to identify potential compliance gaps under the proposed SARB guidelines.
  • For your clients: Offshore e-commerce merchants and cross-border payment facilitators must prepare to adapt their transactional routing and aggregation models to align with the new domestic sponsorship rules.

Originally published at https://legalacademy.co.za/news/read/cross-border-payment-facilitators-input-sought-on-regulatory-proposals

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