BankservAfrica sets EFT clearance record

4th April 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

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.

To watch Creamer Media's latest video reports, click here
 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION