Visa operates the retail electronic payments network to facilitate the flow of transactions between acquirers and card issuers.This review speaks to some of the steps Oversight has taken to protect their employees during the COVID-19 crisis.Morofin (Pty) Ltd which focuses on the aggregation of services and payments, merchant acquiring, collections and e-commerce.SmartSwitch Botswana (Pty) Ltd provides smartcard technology to the financial sector with a view to offering the citizens of Botswana access to financial services and products, especially the un-banked communities.The Centralised Securities Depository (CSD) functions as an electronic entry system, which allows brokers to place orders online through an interface created between the stockbroker systems and the Botswana Stock Exchange to transfer securities between accounts of buyers and sellers.The Botswana Automated Clearing House was established to facilitate the settlement of the net clearing obligations for both cheques and Electronic Funds Transfers (EFTs).
Payment system and settlement providers are licensed, or ‘recognised’, in line with the Recognition of Payment and Clearance System Operators Guidelines. SIPS are expected to observe the Principles for Financial Market Infrastructures (Principles) issued by the Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO).Īccess the National Payments System Oversight Policy.Collection of information and assessment of systems and.Determination of risks and scope of application.Policy formulation and adoption of international oversight standards.The oversight process of the SIPS involves the following steps: The safety and efficiency of the payments system is achieved through regulation and the licensing of new entrants and the monitoring of Systemically Important Payment Systems (SIPS) for compliance to the provisions of the NCSS Act and the accompanying NCSS Regulations. The oversight function is guided by the National Payments System Oversight Policy developed by the Bank. pursuing technological and institutional advancements to modernise the national payment system.minimising and controlling systemic risk and.smooth operation, efficiency and equity in the interest of all participants and users.safety and efficiency of payments and settlement systems.The Bank of Botswana is mandated by the National Clearance and Settlement Systems (NCSS) Act, 2003 (Cap 46:06) to conduct the oversight function of payments and settlement systems in the country to ensure the following: Statement of Legal Authority and Governance.
Monthly and Annual Financial Statements.Market Statistics - Money Market Operations.