The South African Reserve Bank intends to publish its Authorisation Framework by the end of November 2026. Governor Lesetja Kganyago gave the date at the South African Reserve Bank Payments Conference in Pretoria on 20 October 2026. The framework accompanies a proposed new Exemption Notice.
Kganyago set the first quarter of 2027 for a pilot of QR+. He described the aim as one interoperable code, displayed by merchants, allowing customers to pay using the service of their choice. By the end of March, the Reserve Bank aims to start tackling the constraints limiting PayShap adoption.
PayShap has passed 1 billion transactions since its inception in 2023, with a total value transferred of over R1 trillion. Its transaction volumes are less than 40 percent of electronic funds transfer credit volumes, with much lower average transaction values. Kganyago said PayShap remains strongest for person-to-person transfers and that acceptance across the wider network is not yet broad enough.
Two regional deadlines follow. By the end of April 2027, qualifying regional transactions of up to R100 000 should move from SADC-RTGS to TCIB. By October 2027, the TCIB hub-and-spoke pilot should extend across eight pilot countries. The Authorisation Framework, due at the end of November 2026, is the first of the dates Kganyago listed to fall due.