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BankservAfrica sets EFT clearance record

BankservAfrica

BankservAfrica

4th April 2018

By: Marleny Arnoldi

Deputy Editor Online

     

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Africa’s largest automated payments clearing house BankservAfrica announced on Wednesday that it has cleared 89-million electric funds transfers (EFTs) in March at a value of R847-billion – the highest monthly volume of EFTs ever recorded by the company.

Most of these were for EFT credits (payments) that represent 51-million of the total EFTs, valued at R778-billion.

BankservAfrica chief payments officer Martin Grunewald attributed the significant activity to the South African Social Security Agency’s grant payouts that were processed by National Treasury through BankservAfrica in March.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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