The Payment Association of Namibia (PAN) is a registered association not for gain. It is governed by its own Constitution as well as the Payment System Management Act, 2003 (No. 18 of 2003). PAN was duly constituted on 12 August 2005 by the Bank of Namibia as a Payment System Management Body in accordance with section 2(2)(c) of the Act. PAN’s duty is to protect the safety and reliability of the payment system and to ensure that it conforms to international standards and best practices.

Our membership comprises of all commercial banks present in Namibia, which are represented on the PAN Management Council (PMC). As the highest decision making body for PAN, the council is headed by an independent chairperson who is not associated with any of the members.  

As we are governed by the constitution, which together with Payment System Management Act, provision is made for the establishment of various working groups called Forums, also previously known as Payment Clearing House Participant Group (PCH PG). At present there are six forums, responsible for pursuing the objectives of PAN as they relate to the respective payment streams. Each forum is responsible for compiling its own membership criteria subject to approval and endorsement procedures.

Apart from the forums, PAN also consists of a Risk Management Committee that assists in the evaluation of industry risks and any action required is put forward to the PMC by way of proposal.

PAN’s objectives are to manage, control and organise all matters affecting interbank payments, payment clearing, and netting of interbank obligations within the payment system. It does so in keeping with the following aims:

  • To provide a forum for considering matters of policy and mutual interest that relate to its members
  • To act as a medium for communications with the Bank of Namibia and other regulatory agencies; any financial or other exchange; other public bodies, authorities and officials; the media; the general public; and other private associations and institutions
  • To deal with and promote any other matters of interest to members, and to foster cooperation among its members, and
  • To fairly represent and promote the technical and related interests of all banking institutions.

PAN has therefore geared itself towards adapting to the immense changes taking place in the payments landscape.