SARB shifts approach to cash

▤ Summary

South Africa’s central bank has shifted from treating cash as a barrier to digital adoption to framing it as critical public infrastructure. The new Cash Smart Strategy aims to reduce cash costs, preserve access, and improve resilience through shared infrastructure, stronger regulation, and wider service coverage. SARB also continues building its digital payments stack through PayInc, which it is turning into the National Payments Utility. The article signals a long-term modernization program across payments infrastructure, regulation, and settlement services rather than a single transactional event.

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