Each Payment Clearing House (PCH) Participant Group (PG) acts as a consultative forum for discussing and approving the various rules and procedures governing the PCH concerned. The PCH PG also acts as a consultative forum in liaising and consulting with PAN, the various service providers, and any other party within the clearing environment. This includes discussing operational business matters relating to the various PCHs.

The representatives on each PCH PG are accountable for managing clearing issues as well as the practical implementation of the principles, policies, strategies, rules and procedures contemplated in the relevant PCH System Operator Agreements. The PGs are also responsible for specific management functions contained in the schedules of their respective PCH Agreements. Furthermore, each PCH PG ensures the following:

  • That the clearing of payment instructions between its members are facilitated and managed
  • That payment instrument and payment processing standards are introduced and maintained by its members to protect the integrity of the payment system and its operations, and that such standards are documented and enacted via the clearing rules of the PCH concerned
  • That appropriate risk reduction measures are implemented by its members in the process of clearing payment instructions
  • That it facilitates the speedy and effective resolution of problems during daily operations as well as in crisis situations such as the failure of a bank
  • That PCH system operators conform to the requirements listed in the PAN Regulatory Framework and applicable PCH System Operator Agreements
  • That the clearing rules for each PCH make adequate provision for handling errors and returns (where applicable) in a formal and structured way
  • That the specific service agreements established with each PCH system operator are maintained, and
  • That PCH entry and participation criteria are in place, maintained and implemented.

The following PCH PGs currently exist under PAN:

  • Card PCH PG
  • Cheque PCH PG
  • EFT PCH PG, and
  • Immediate Settlements PCH PG.

The PAN Stakeholder Forum

The Forum is an industry roundtable that brings together the major consumer payments stakeholders, including non-bank financial institutions, payment schemes, merchants, consumer groups, and industry groups. The Forum considers the future direction of public policy in payments, focusing on ways to promote innovation and system evolution over the long term while ensuring healthy competition. PAN stakeholders discuss complex issues such as the following:

  • Product innovation: Developments in product and network innovation both at home and abroad are tracked, and ways are sought and identified to promote innovation, particularly at the network or system level, and
  • Collaboration to enhance competition: Areas are identified where collaboration among industry stakeholders would help to develop a better platform for effective competition.

The Financial Institutions Fraud and Security Committee 

The primary aim of this Committee is to help reduce crimes committed against financial institutions and, in doing so, promote the security of financial institutions’ staff, their customers and their members.

The Committee’s objectives include –

  • the effective detection and reporting, to regulatory and law enforcement agencies, of fraud and security risks
  • ensuring appropriate actions are taken against the perpetrators of fraud, economic crimes and security-related offences
  • providing a dedicated platform from which to address current and future fraud-related challenges, and
  • allowing members to share experiences and information.