An important component of the implementation strategy entailed the establishment of an umbrella body – the Payment Association of South Africa (PASA). It was envisaged that PASA would play a central role in establishing and controlling Payment Stream Associations representing the banks  BIS Review 111/2006  1  participating in each particular payment stream.
It was the view at the time that although the Bank would remain responsible for the overall safety and soundness of the NPS, the clearing environment should be managed by an association made up of participants in that environment.