System Operator — South Africa

“meet the criteria as recommended by the relevant payment system management body, which criteria have been approved by the Bank in terms of section 4(2)(c)(i) of the NPS Act.”

“This directive becomes effective 3 (three) months after the date of publication hereof.”

“only act in accordance with instructions issued by the person to whom the service is rendered, and not pay such funds from or transfer such funds to its own account … keep records of each and every payment instruction processed by it for a period of five (5) years.”