How Payments Work
Understand the fundamentals of payments, from the payment lifecycle and participants to clearing, settlement, cut-off times, fees and the South African national payment system.
Start here to understand the building blocks of every payment: who is involved, how money actually moves, and the terminology used across the rest of the knowledge centre.
Topics in this section
- What Is a Payment?
- What Is the Payment Lifecycle?
- Authentication, Authorisation, Clearing and Settlement Explained
- Who Are the Participants in a Payment?
- Payment Methods, Rails and Channels Explained
- Payment Statuses and References Explained
- What Are Payment Cut-Off Times and Value Dates?
- Payment Fees and Interchange Explained
- What Is the South African National Payment System?
Payments Knowledge Centre
Clear answers to common and technical questions about South African payments, including debit orders, DebiCheck, card payments, EFT, PayShap and more.
What Is a Payment?
Learn what a payment is, the difference between push and pull payments, and how money moves between payers, businesses and banks in South Africa.