Objectives of the Payment System Stakeholder

The objectives of the Association, as per the constitution, shall be

  • to function as a forum for its Members to discuss and identify matters of concern and requirements to be met by EDO, on a co-ordinated basis
  • to monitor and manage inappropriate conduct of Members in EDO as well as to monitor and report on other persons that operate in EDO outside the EDO regulatory environment;
  • to facilitate the acceptance of persons, eligible to participate in EDO, as Members of the EDO PSSF;
  • to participate, subject to such terms and conditions as may be prescribed by the SARB, in a Payment System Advisory Body established by the SARB for the purpose, inter alia, of facilitating the exercise by the SARB of its oversight of the NPS and implementation of its strategic policy of broadening access to the NPS. The EDO PSSF recognises the SARB’s mandate to oversee the NPS and all participants therein and the role of PASA as payment system management body to facilitate such oversight and to manage risk in the NPS through self-regulation;
  • to provide advice and information, on a co-ordinated basis, to the Membership of the EDO PSSF and EDO PCH Participants with regards to the needs of Beneficiaries in the various Industries participating in EDO while acknowledging PASA’s position and authority as the payment system management body recognised by the SARB in terms of Section 3(1) of the NPS Act;
  • to co-ordinate and foster dialogue and co-operation between EDO PSSF Members, PASA EDO PCH Participants and their appointed PCH System Operator for EDO in order to find acceptable solutions for the needs of those EDO PSSF Members who are time sensitive with regards to the receipt of feedback data relating to the fate (outcome) of Collections made via EDO and further to facilitate the limitation and management by PASA (including its EDO PSSF Participants), under the SARB oversight, of reputational and other risks that may arise in the NPS as a result of unacceptable market practices of EDO PSSF Members;
  • to facilitate limitation and management of risk resulting from access to and use of EDO, by managing any Stakeholder that is identified as being delinquent via the processes of the EDO PSSF and where necessary to apply appropriate sanctions against any such Stakeholder;
  • to enforce the EDO Regulatory Environment amongst Stakeholders and to advise PASA of suspension of any Stakeholders as a result of non-compliance of any Stakeholder;
  • to monitor, manage and sanction its Members abusing EDO, thus assisting EDO PCH Participants to protect the integrity of EDO;
  • to generally promote responsible behaviour by Stakeholders as well as to create a sound working relationship between PASA, EDO PCH Participants, the EDO PSSF and Stakeholders.

Click here to Download the Constitution : Effective 9 March 2021