Establishing a sound and robust payment system infrastructure that facilitates the efficient functioning of economic activities, while promoting financial innovation and inclusion, has consistently been one of the foremost priorities for the RMA.

Section 8(c) of the RMA Act 2010 grants the RMA the authority to "promote, supervise, and, if necessary, operate national and international payment and settlement systems, including electronic fund transfers by financial institutions, other entities, and individuals." Consequently, the Department of Payment and Settlement Systems (DPSS) is responsible for formulating and implementing policies, rules, regulations, guidelines, directives, etc. It supervises banks/telecoms and manages the operation and settlement of payment transactions.