Stakeholders
Stakeholder Engagement
PASA’s commitment to collaboration and stakeholder engagement is inherent in the organisation and its pivotal role as a Payment System Management Body (PSMB). PASA cultivates and maintains high-quality relationships with its stakeholders.
How PASA engages with its stakeholders
PASA actively engages with its stakeholders through a comprehensive approach that encompasses formal and informal interactions, structured meetings, and participation in industry-wide initiatives. Regular dialogue is maintained with key stakeholders through operational, strategy, and project committee meetings, ensuring their voices are heard and concerns addressed.
PASA prioritises direct engagement with select stakeholders, particularly those listed against the CEO, through a dedicated CEO diary plan that translates into scheduled meetings throughout the year. Additionally, PASA leverages PASA structures, stakeholder forums and the PIB community platform to engage with a broader range of stakeholders, ensuring regular interactions and fostering a collaborative environment.
Assessing the quality of PASA’s stakeholder relationships
PASA continuously seeks feedback from key stakeholders to evaluate the strength and effectiveness of its relationships. This feedback includes soliciting input from Banking Association South Africa (BASA), PayInc, the Financial Sector Conduct Authority (FSCA), the South African Reserve Bank (SARB), and the broader payments industry community. PASA gathers this feedback through a combination of surveys and direct engagements, ensuring a comprehensive understanding of stakeholder perspectives.
In 2022, PASA conducted its first stakeholder engagement survey to assess its overall effectiveness. The positive feedback received from key stakeholders affirmed PASA’s value add. PASA has now made stakeholder engagement an annual practice, and feedback in 2023 was equally positive, with 44% agreeing and 56% strongly agreeing that PASA effectively fulfils its responsibilities within the NPS.
Stakeholders commended PASA for its knowledgeable, skilled, and professional team, strong leadership, expertise in the payments industry, efficient communication, facilitation of member collaboration, ability to navigate challenging conversations, and commitment to enhancing the NPS effectiveness and stakeholder inclusion.
This ongoing commitment to stakeholder engagement demonstrates PASA’s dedication to fostering strong relationships and ensuring its continued relevance and impact in the payments landscape.
