Namclear and PayInc have signed an agreement to bring Namibia into a regional payment system that allows money to move across borders almost instantly.
The deal will see Namclear join the Transactions Cleared on an Immediate Basis (TCIB) scheme, giving banks and financial institutions in Namibia access to faster cross-border payments.
Under the system, individuals and businesses will be able to send and receive money between countries such as Namibia and South Africa with minimal delays, although final settlement will still take place later.
The TCIB platform, led by the SADC Bankers’ Association, forms part of broader efforts to make payments across Southern Africa quicker, more affordable and more efficient.
Namclear will act as the local link, connecting Namibian banks and authorised financial institutions to the regional system, while PayInc provides the infrastructure that enables payments to flow between countries.
Namclear Managing Director Fabian Tait said the move will improve the user experience by making cross-border payments faster and more reliable.
He said the system will enable customers to send and receive money across the region more easily, including within the Common Monetary Area.
Namclear also plans to introduce additional services over time, including fraud prevention tools, compliance checks and real-time payment capabilities.
PayInc Head of TCIB Meera Sunker said bringing Namclear into the system will expand access for banks to a modern payments network.
“By bringing Namclear into the ecosystem, we are scaling access to immediate clearing capabilities and enabling more banks and financial institutions to participate in a modern, interoperable payments network, moving us closer to a truly connected regional system,” she said.
“This collaboration strengthens our ability to support trade, remittances, and everyday transactions between markets like Namibia, South Africa and beyond. We are building infrastructure that the region can rely on, and partnerships like this are what turn that infrastructure into real economic impact,” Sunker said.
