Default Procedures

PayNet's Participant Default Management Procedures (PDMP) provide a structured framework for managing participant distress that may affect settlement or system stability. These procedures ensure timely, coordinated action to maintain continuity of PayNet's services.

How Default Situations Are Managed

Early Detection & Notification

Assessment of Impact

Crisis Management Actions

Communication

Return to Normalcy

Suspension & Termination

PayNet may suspend or terminate a participant's access to one or more PayNet services where necessary to safeguard the safety, integrity, resilience and efficient operation of the payment ecosystem. The applicable grounds, processes and consequences are set out in the relevant participation agreements, scheme rules and operational procedures for each PayNet service.

A Participant May be Suspended or Terminated If:

Non-Compliance with Scheme Rules

Settlement or Operational Risks

Loss of Required Status

Regulatory Direction

What Happens When Participation Ends

Participant Obligations Upon Suspension or Exit

Back to PayNet Ecosystem