Payments Association of Namibia

What Payments Association of Namibia does

Payments Association of Namibia (PAN) is a not-for-profit industry association legally established under the Payment System Management Act, 2023 (Act No. 14 of 2023), serving as the sole recognised coordinating body for Namibia's National Payment System. It functions as the central collaborative platform on which commercial banks, non-bank payment service providers, payment system operators, merchants, and the Bank of Namibia converge to formulate technical standards, enforce clearing rules, and address regulatory and fraud-related challenges across the country's payment infrastructure.

Its 'product surface' is a portfolio of eight active coordinating forums — Card, Cross-Border, Electronic Fund Transfer (EFT), Financial Institutions Fraud and Security Committee (FIFSC), Immediate Settlement (IS), Instant Payment Solutions (IPS), Open Banking, and the PAN Stakeholder Forum (PSF) — together with regulatory publications (the PSM Act 2023, PAN Governance Model & Standards, PAN Foundational Constitution) and a Fraud Awareness Program. Underlying technology centres on standards-based payment infrastructure coordination: ISO 20022 messaging, NAMQR code specifications for instant payments, Open Banking API frameworks, and clearing and settlement standards that bind participants into a nationally interoperable system.

PAN's revenue model is membership-fee subscription from financial institutions and payment service providers operating in the National Payment System, with no publicly disclosed pricing. Go-to-market is community-led through forums and direct regulatory collaboration with Bank of Namibia rather than commercial sales. Customer segments span licensed commercial banks (Bank Windhoek, FNB Namibia, Nedbank Namibia, Standard Bank Namibia, Letshego Bank, Nampost, Banco Atlantico, Bank BIC, Access Bank, Banco Atlantico), infrastructure participants (Namclear, Instant Payment Namibia, MTC Maris), the regulator (Bank of Namibia), merchant associations, and affiliate members such as the Microlenders Association — collectively representing 100% of Namibia's payment system interoperability.

Name

Payments Association of Namibia

Legal name

Payments Association of Namibia

Website

https://pan.org.na

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Payments Association of Namibia (PAN) is a not-for-profit, statutorily recognised industry association that coordinates Namibia's National Payment System across banks, non-bank payment providers, and the Bank of Namibia through eight forums setting clearing, ISO 20022, NAMQR, and Open Banking standards.

Ownership category

akta.pro rank

Product category

Payment Systems Coordination and Standards

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Risk, Controls & Governance (GRC) Platforms (FSAFAOAG)

akta.pro secondary industries

Corporate Cash Management & Treasury ACH (FSAMAGAG), Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI)

Keywords

• Payment system coordination
• Clearing and settlement standards
• Open banking framework
• Payment fraud prevention
• Instant payment infrastructure

Headquarters

HQ city

Windhoek

HQ country

Namibia

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Membership Fees: PAN operates as a not-for-profit entity established under the Payment System Management Act, 2023. Revenue is generated through membership contributions from participating financial institutions and payment service providers in Namibia's National Payment System.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

The Payments Association of Namibia (PAN) is a not-for-profit industry association established under the Payment System Management Act, 2023, that coordinates Namibia's National Payment System by running eight industry forums (Card, Cross-Border, EFT, FIFSC, Immediate Settlement, IPS, Open Banking, and Stakeholder forums) and setting technical standards, clearing rules, and operational specifications for banks, non-bank financial institutions, and payment service providers. PAN produces regulatory publications (Payment System Management Act, PAN Governance Model & Standards, PAN Foundational Constitution) and operates a Fraud Awareness Program to combat cybersecurity threats in the national payment ecosystem.

Product overview

Payments Association of Namibia (PAN) is a not-for-profit entity established under the Payment System Management Act, 2023, that does not offer a commercial product in the traditional sense. Instead, PAN provides a portfolio of coordinating forums (Card Forum, Cross-Border Forum, EFT Forum, FIFSC, Immediate Settlement Forum, IPS Forum, Open Banking Forum, and PAN Stakeholder Forum) that serve as industry-wide steering groups to foster collaboration, set technical and operational standards, address regulatory challenges, and encourage payment systems innovation. Additionally, PAN offers regulatory publications including the Payment System Management Act, PAN Governance Model & Standards, and PAN Foundational Constitution, along with a Fraud Awareness Program delivering security advisories to protect the national financial infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Card Forum A coordinating forum that establishes, maintains, and enhances operational rules and standards for card and ATM payment clearing in Namibia, serving banks, non-bank financial institutions, and payment system operators.
• Cross-Border Forum An industry coordination platform focusing on cross-border payment operations, regional integration, and payment system interoperability, serving payment service providers and banks operating across borders.
• Electronic Fund Transfer (EFT) Forum A collaborative platform governing the effective clearing and settlement of EFT payment instructions with modern operational standards, optimizing batch processing and transaction settlement windows for participating banks and payment service providers.
• Financial Institutions Fraud & Security Committee (FIFSC) A collaborative forum dedicated to combating fraud, enhancing cybersecurity, and securing the national financial infrastructure through national campaigns and industry coordination among financial institutions.
• Immediate Settlement (IS) Forum An industry coordination platform facilitating discussions and decision-making on real-time settlement operations, enhancing payment processing automation and reducing operational friction for payment system participants.
• Instant Payment Solutions (IPS) Forum A forum promoting collaboration to support the development of a secure, efficient, and interoperable instant payments ecosystem in Namibia among banks, non-bank providers, and payment operators.
• Open Banking Forum An industry coordination platform facilitating secure data sharing through Application Programming Interfaces (APIs), promoting collaboration on Open Banking matters, interoperability, competition, and innovation in financial services.
• PAN Stakeholder Forum (PSF) An industry roundtable bringing together regulators, merchants, schemes, and financial providers to shape national payment policy and drive evolution of a competitive future-ready payments system in Namibia.
• Payment System Management Act, 2023 Legislative milestone establishing a robust legal framework governing Namibian transactions, clearing operations, settlement nodes, and fee allocations, empowering PAN as the sole legally recognized payments association.
• PAN Governance Model & Standards Operational standards document outlining governance guidelines for bank and non-bank participants in the national payment system, defining participation criteria and operational obligations.
• PAN Foundational Constitution The primary governing text outlining corporate bylaws, voting frameworks, system participant covenants, and membership criteria for clearance houses and payment system participants.
• Fraud Awareness Program Security advisories and fraud awareness content covering phishing, ATM scams, mobile banking fraud, deposit/refund scams, and fraudulent proof of payment, published through the FIFSC to protect the national financial infrastructure and educate stakeholders and the public.

Quantifiable outcome

• National interoperability across Namibia's payment system
• +1 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core.

• Bank of NamibiacoreStrategic or Co-development PartnerPrimary regulatory partner and oversight authority for the National Payment System. Bank of Namibia works closely with PAN to maintain payment ecosystem integrity, issue directives and determinations, and oversee the implementation of payment system reforms. PAN supports Bank of Namibia in its regulatory functions.
• NamclearcoreTechnology or IntegrationClearing system participant providing payment clearing and settlement services. Namclear operates as a key infrastructure node within Namibia's National Payment System coordinated by PAN.
• Bank WindhoekcoreStrategic or Co-development PartnerMajor commercial bank participant in PAN's governance structure, represented on the PAN Management Board and committees contributing to payment standards development.
• First National Bank NamibiacoreStrategic or Co-development PartnerMajor commercial bank participant in PAN's governance structure and forum activities, contributing to clearing rules and operational standards development.
• Nedbank NamibiacoreStrategic or Co-development PartnerCommercial bank participant in PAN governance, providing input on payment system standards, risk management, and interoperability requirements.
• Standard Bank NamibiacoreStrategic or Co-development PartnerCommercial bank participant in PAN governance and forum structures, contributing to standards development and payment system modernization initiatives.
• Letshego Bank NamibiacoreStrategic or Co-development PartnerRegional microfinance bank participant in PAN's National Payment System, contributing to financial inclusion and payment access goals.
• Instant Payment NamibiacoreTechnology or IntegrationInstant payment infrastructure provider operating under the Bank of Namibia Framework. Supports the development of secure, efficient, and interoperable instant payments ecosystem in Namibia through the IPS Forum.
• Microlenders AssociationcoreStrategic or Co-development PartnerAffiliate member represented on PAN Management Board through the Governance, Nomination, Remuneration Committee and Prioritization Committee, contributing to standards development for micro-lending payment ecosystems.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Pay.UK: Pay.UK is the UK payments industry body responsible for retail payment schemes (including Faster Payments and Bacs). It shares PAN's coordinating, standards-setting role in a national payment system.
• Nacha: Nacha governs the ACH Network in the US, developing operating rules and standards for electronic payments through industry forums. Highly comparable to PAN's EFT Forum and clearing-rules mandate.
• Australian Payments Network (AusPayNet): AusPayNet is Australia's self-governing payments industry body that manages clearing rules, standards, and industry agreements for the Australian payments ecosystem. It is structurally analogous to PAN as a member-funded standards-setter.
• Payments Canada: Payments Canada operates the country's clearing and settlement systems and develops payment standards and rules under regulatory oversight. Comparable to PAN in mandate and member-based governance model.
• Payments Association of South Africa (PASA): PASA is the national payments industry body for South Africa, coordinating clearing, settlement, and payment standards under central bank oversight. It is the closest functional peer to PAN within the Southern African region.

Broad incumbents

• The Clearing House (US): The Clearing House is a US banking association that operates core clearing and settlement systems and develops payment standards. It is a larger-scale incumbent with a similar industry-association-plus-infrastructure model.
• Bank of Namibia: The central bank of Namibia that issues Determinations and Directives to PAN and oversees the National Payment System. While not a peer in the industry-association sense, it is the principal regulatory counterpart shaping PAN's scope.

Emerging players

• Payment Systems Regulator (various emerging markets): Emerging-market payment systems regulators and associations (e.g., comparable bodies in Botswana, Zambia, Kenya) that PAN can benchmark and potentially partner with for cross-border integration initiatives.

Regional players

• SADC Banking Association: Regional industry body representing banks in the Southern African Development Community. PAN's Cross-Border Forum aligns with SADCBA's mandate to promote regional payment integration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/pan_namibia
• LinkedInlinkedin.com/company/pan-payments-association-of-namibia

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Payments Association of Namibia