The National Payment System (NPS) impacts the lives of all South Africans. Essentially, it exists to serve the economy by ensuring the safe and efficient circulation of money between senders and recipients, and through it the people (both individuals and corporates) of South Africa.
As with all payment systems in the world, South Africa’s NPS and its end-users face numerous threats in the form of various attacks, be it cyber or otherwise. More specifically, South Africa’s NPS faces an insidious scourge of fraudulent debit order collections by rogue entities and improper debit order reversals by individuals for cash flow management purposes in times of financial distress. The behaviour and action required from leaders to mitigate the risks of this two-sided problem are both perplexing and ever-changing.
This paper positions the work of the mavericks, mobilisers and mentors that set out to thoroughly understand and solve some of the painpoints in the debit order sphere. The journey required full transparency and accountability of various stakeholders as well as a holistic, integrated and cross-sectoral approach. The outcomes and impact of these changemakers lead to the creation and implementation of agile and responsive practices that consistently mitigate criminal activities in the NPS while minimising problematic consumer behaviour.
Read the full report here.
