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…
