PayShap: Kickstarting the next-generation in Digital Payments

Hey Media24 readers.

PayShap, South Africa’s first interbank, real-time digital payments solution for low-value transactions is now available through participating banks.

It’s a payments service that keeps up with you. Easy, safe and instant, you can now make payments to a bank account at a different bank in real-time, using a bank registered cellphone number (ShapID) instead of bank account details.

PayShap is currently offered by Absa, FNB, Nedbank and Standard Bank with more banks coming soon.   

What PayShap offers you:

Life happens now. So whether you’re sending money, spending money or need to be paid, it’s money in the bank right now.

Why PayShap, and why now?

A response to key goals recognised by the South African Reserve Bank’s Vision 2025 for financial inclusion, a reduced dependency on cash and the development of a modern, integrated platform for digital payments, PayShap is rebooting interbank payments and satisfying a pressing need to deliver low-value payments in seconds.

Safe and secure, PayShap is accessed through banking channels and provides a reason to believe in a digital cash alternative for day-to-day transactions that is “as quick as cash”.

PayShap is also a viable solution for businesses of all sizes. Instant payments from customers means that businesses can free up cash flow and grow their operations. This digitisation of cash helps businesses develop a track record and credit profile, creating new business development and growth opportunities.

So why wait? Join the faster payments movement. Log in to your banking app, look for the PayShap icon and follow the prompts to start making safe instant payments today.

*PayShap is currently offered by four banks in South Africa, namely Absa, FNB, Nedbank and Standard Bank, and will be rolled out to other banks soon. To find out more, log in to your banking app or PayShap or visit www.payshap.co.za.

This post and content is sponsored, written and produced by PayShap.