PAN was duly constituted on August 12, 2005, by the Bank of Namibia. It operates under the authority of the Payment System Management Act of 2003 (Act No. 18 of 2003) and is governed by its own official Constitution.

Membership in PAN comprises all commercial banks operating in Namibia. These member banks are represented on the PAN Management Council (PMC), which serves as the association's highest decision-making body. To ensure impartiality, the Council is led by an independent chairperson who is not affiliated with any member bank.

Forums are specialized working groups (previously known as Payment Clearing House Participant Groups) established to manage specific payment streams. There are currently six active forums within PAN, each responsible for setting criteria and driving innovation and standardization within their respective areas of the payment ecosystem.