Shoprite, Checkers and Usave said it has ensured continued access to Money Transfer services to Lesotho and Eswatini amid the new EFT regulations
The retail giant said that its customers can continue to send money to Lesotho and Eswatini from all Shoprite, Checkers and Usave stores nationwide, even after the new regulations came into effect on 9 September 2024 which will impact electronic funds transfer (EFT) payments within the Common Monetary Area (CMA).
South African banks will cease processing EFT payments and collections within the CMA in response to new regulations and low-value cross-border payments will now be handled via a regional infrastructure payment system.
Despite these changes, Shoprite, Checkers and Usave customers can continue to safely and securely send and receive money to
CMA countries, including Lesotho and Eswatini, at more than 1,400 Money Market counters in stores.
