Emanuela Saccarola. Image: LinkedIn The successful modernisation of a country’s domestic payments infrastructure onto faster, instant payment rails like South Africa’s PayShap does not always translate into similar success in the cross-border payments space – and regulation is often a bottleneck. Speaking to TechCentral in an interview on Wednesday, Emanuela Saccarola, head of global cross-border…
Digital challenger bank TymeBank has introduced a PayShap Request payment option that third-party payment service providers can offer to merchants to use with their clients. According to a statement by the bank on Wednesday, the functionality will give South African businesses “a simple, unique and bank-agnostic” way to receive instant payments from customers at checkout….
Standard Bank’s Nthabiseng Mohale Banks should review their pricing strategies for PayShap transactions to drive higher rates of financial inclusion and increase adoption of the rapid payments platform in South Africa. This is according to Nthabiseng Mohale, head of interbank and domestic payments at Standard Bank Group, who spoke to TechCentral at the launch of…
Standard Bank’s Nthabiseng Mohale Banks should consider lowering the fees they charge for PayShap transactions to drive higher rates of financial inclusion and increase adoption of the rapid payments platform in South Africa. This is according to Nthabiseng Mohale, head of interbank and domestic payments at Standard Bank Group, who spoke to TechCentral at the…
High fees, gaps in consumer education and friction related to ease of use are just some of the factors holding back the adoption of South Africa’s PayShap payments platform, especially in lower segments of the economy where cash still dominates. PayShap, introduced in 2023 to facilitate rapid, low-cost payments in South Africa, lags behind similar…
Rachel Cowan, interim CEO at Ozow. South African fintech firm Ozow says it has achieved a first in the country’s digital payments space by implementing the real-time payment feature, PayShap Request, in a live environment. The company claims the functionality represents the country’s first South African Reserve Bank (SARB)-endorsed interoperable account-to-account payment rail (the infrastructure…
Partnering with Change Logic, BankservAfrica successfully delivered a successful change enablement programme for one of South Africa’s ambitious payments modernisation initiatives. Through a structured and deliberate approach to change management, BankservAfrica engaged stakeholders across the financial services industry to ensure the seamless roll-out of the industry-driven PayShap, setting a new benchmark for rapid and effective…
