Skills Development Beyond the Academy: Building the Future of the Payments Industry

Recently, I had the privilege of addressing graduates at the PASA Academy an institution that has played a meaningful role in my own professional journey. As both an Independent Councillor of PASA and a recent graduate of the High Value Payments programme, this occasion was deeply personal.

In my address, I reflected on the responsibility that comes with expertise in the payments ecosystem, the importance of continuous learning beyond formal qualifications, and the role each of us plays in building a resilient, ethical, and future-ready financial system.

Below is my full address.

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Welcome

It is an honour to join you today for this important occasion, one that marks achievement, commitment, and the beginning of a deeper professional journey for our graduates in payments.

This ceremony is not just about certificates.It is about capability.It is about responsibility. And increasingly, it is about relevance in a rapidly changing world.

Standing Where You Stand

Graduates, before anything else, I want you to know this:

Just over a year ago, I was sitting where you are sitting today.

I am a recent graduate of the PASA Academy myself, having completed the High Value Payments course last year. I understand the intensity of the material, the discipline it demands, and how it compels you to see payments not as isolated processes, but as a connected system of rules, risks, technology, and trust.

So when I say congratulations, I say it not only as an Independent Councillor of PASA, but as a fellow graduate who understands the journey you have completed and who knows that graduation is not the end of learning, but the beginning of a career that demands continuous development.

What Today Represents

Today, we recognise graduates from:

• Foundational Payments

• Advanced Certificates in Electronic Payments

• High Value Payments

Each qualification plays a distinct role in strengthening our payment ecosystem.

They are not endpoints. They are entry points into deeper specialisation, broader system understanding, and more meaningful participation in the industry.

What matters is not only what you studied, but what you do next with that knowledge. The payments and financial services environment is evolving rapidly. Remaining relevant requires a deliberate commitment to ongoing skills development — technical, regulatory, and leadership — long after today’s ceremony.

Those who thrive are those who actively seek opportunities to stretch their knowledge, take on new responsibilities, and broaden their perspective across the value chain. Those who thrive are those who actively seek opportunities to stretch their knowledge, take on new responsibilities, and broaden their perspective across the value chain.

The Ecosystem You Are Entering

Payments today are no longer simply about moving money from one account to another.

They sit at the intersection of:

• Financial stability

• Economic inclusion

• Technology and data

• Consumer protection

• National and cross-border interoperability

Every payment, whether low-value or high-value, retail or wholesale, is part of a wider system that must be:

• Efficient, to support growth

• Safe, to preserve confidence

• Resilient, to withstand shocks

• Inclusive, to ensure broad participation

Understanding this ecosystem view is what distinguishes payment professionals from payment operators.

It is also where subject matter expertise becomes critical. Our industry is strengthened by individuals who have developed deep knowledge and are willing to share it — people such as Wynand Malan, Tlalane Mokuone, Nthabiseng Mohale, and many others who consistently contribute their expertise to uplift industry capability. Their impact extends far beyond their individual roles.

A Changing Global Landscape

Globally, the payments environment is shifting structurally, not cyclically.

We are seeing:

• Faster and real-time payment systems are becoming standard

• Greater emphasis on data-rich messaging standards like ISO 20022

• New settlement models and greater focus on liquidity and intraday risk

• Increased attention to operational resilience, cyber risk, and fraud

• Stronger alignment between payments oversight and financial stability objectives

This is happening across jurisdictions - developed and emerging alike. Importantly, this global shift is not about politics. It is about efficiency, resilience, inclusion, and trust.

In this context, the role of skilled professionals and future leaders becomes even more important. The industry needs individuals who can interpret change, translate complexity, and guide organisations responsibly through transformation.

The South African Context

South Africa is not on the sidelines of this transformation.

Our payment system is sophisticated, interconnected, and systemically important, not only domestically but within the region.

The work currently underway, led by the SARB, together with industry stakeholders such as PASA and industry participants – banks and non-banks, reflects a deliberate and thoughtful approach to modernising payments while safeguarding stability.

These changes require professionals who understand not only how payments work, but why they are governed the way they are and who see themselves as part of the next generation responsible for shaping the future payments landscape.

Succession planning in this industry cannot be left to chance. Identifying, developing, and supporting talent early in their careers is a shared responsibility of organisations, leaders, and individuals alike

The Regulatory Environment

It is easy to view regulation as something separate from innovation.

In my view, good regulation is what allows innovation to scale safely.

In payments, regulation exists to:

• Protect end users

• Maintain systemic stability

• Promote fair access and competition

• Ensure confidence in the system

As an Independent Councillor, I see firsthand how regulation, industry collaboration, and innovation must move together.

Your role is not to work around regulation, but to work within it intelligently and, over time, to contribute meaningfully to policy discussions and industry forums where collective solutions are shaped.

Why Continued Learning Matters

One of the most important messages I want to leave you with today is this:

The system never stands still, and neither can we.

The qualification you receive today will not be sufficient on its own in five or ten years — and that is not a weakness. It is the nature of this industry.

There is scope to:

• Deepen technical expertise

• Broaden regulatory understanding

• Move across retail, electronic, and high-value domains

• Engage with risk, compliance, operations, strategy, or policy

Equally important is learning through participation through volunteering, mentorship, and knowledge-sharing initiatives. These platforms strengthen the industry while also accelerating your own growth.

Let me share a brief story.

At the recent PASA Industry Awards, we celebrated individuals who have contributed to the payments industry for over 30 years. These are professionals whose careers have spanned paper-based instruments, electronic payments, real-time systems, and today’s digital and data-driven environment.

Their longevity is not accidental.

It exists because they kept learning, adapting, and evolving alongside the system.

That is the message for you today.

Your qualification is not the end of learning — it is the beginning of a long, meaningful relationship with a constantly changing ecosystem.

The PASA Academy plays a critical role in this regard. It is more than a training institution; it is a platform for building shared understanding across the industry — between banks, non-banks, regulators, operators, and innovators.

Your Responsibility Going Forward

With your qualification comes responsibility.

Payments professionals are custodians of:

• Trust

• Stability

• Integrity

• Public confidence

You work with systems where failures are not theoretical — they have real economic and social consequences.

You will face decisions that require judgment, not just technical knowledge.

As you progress in your careers — and some of you into senior leadership — remember the influence that leadership carries within the payments ecosystem. Senior leaders set the tone for inclusion, ethical behaviour, and long-term thinking.

Lead with integrity, accountability, and a commitment to strengthening the industry, not just your organisation.

A Word of Encouragement

So graduates, let me leave you with this call to action:

• Stay curious — commit to continuous learning

• Stay engaged — participate, volunteer, mentor, share your knowledge

• Stay ethical — let integrity guide every decision

• Stay system-minded — always consider the broader impact of your work

Do not see yourselves as passive participants in the payment system.

See yourselves as contributors, stewards, and future leaders.

South Africa’s payment system will only be as strong, inclusive, and resilient as the people who build and operate it.

From today onward, that includes you.

South Africa needs professionals who can bridge:

• Technology and regulation

• Innovation and stability

• Local realities and global standards

You are now part of that pipeline.

Closing

To the graduates: You have earned your place in this ecosystem. Use it wisely.

To PASA and the Academy: Thank you for investing in the intellectual and professional capital of our payment system.

And to everyone here: Strong payment systems do not happen by accident — they are built by informed, ethical, and committed people.

Graduates, congratulations. May your careers be defined by learning, integrity, and meaningful contribution to the future of payments.

Thank you.