Submission to the South African Reserve Bank (SARB) on the viability of a domestic card scheme in South Africa

On 31 March 2021, the FMF made a submission to the South African Reserve Bank (SARB) on the viability of a domestic card scheme in South Africa.

The fact that there is not currently a domestic card scheme operating in South Africa is not a sign of what is too often called "market failure." If the financial marketplace is reasonably free from regulatory restrictions, and there are no significant national security concerns, then the absence of a domestic card scheme should be seen as a market success.

The full submission can be read HERE.