Payments Industry Body Design Success

Overview

In 2021 the South African Reserve Bank made a bold move by asking the payments industry to propose a design for an industry body which is inclusive of all payment stakeholders.  The design process for the Payment Industry Body was facilitated by the Payments Association of South Africa, with the PwC Strategy& Payments Transformation Team fulfilling the role of programme partner. Since this Payment Industry Body will have a significant and direct impact on the manner in which the payments industry is regulated, the stakes were high for all involved.

Explore the challenging dynamics within the design process and the key lessons learnt, which are based on the insights from various participants who were interviewed for this case study.