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CIPC to implement a new card payment system for all services
- 25 May 2020
- Accounting
- South African Accounting Academy
As part of their ongoing strategy to improve customer service and remain abreast with changes in our environment, CIPC will soon commence a process to phase out its deposits system and replace it with a card payment system for all services.
The new card payment system will require customers to transact with CIPC using debit and credit cards only, with payments occurring only when a customer transacts.
Once a service is transferred to the new card payment system, the old deposits payment system will no longer by available for that particular service. Customers are therefore advised to refrain from making bulk deposits into their customer accounts, and to further deplete balances as soon as possible.
Stakeholders are encouraged to urgently attend to their necessary internal processes to adjust to the new way of working.
Click here to download Notice 28 of 2020.