BankServAfrica launches a new instant payment service for SA

Loading player...
GUEST – Mpho Sadiki, head of real-time payments at BankservAfrica

The recent launch of PayShap (born out of the payments industry-led Rapid Payments Programme or RPP) developed as part of the SA Reserve Bank’s Vision 2025 and is a giant leap forward in the campaign to modernise payments in SA.

South Africans will now also have an option to pay without knowing the recipient’s banking details. Payments will be made to a bank account or a proxy (such as a mobile phone number) that has been linked to an account or wallet at any bank. Payments can be made from a mobile phone at a low fee to the consumer, in real time and available 24/7.PayShap aims to provide the benefit of a safe and convenient money transfer type of payment, as an alternative to cash, as well as to address the challenge of bank interoperability between money transfer services.
14 Mar 2023 4PM English South Africa Business News · Investing

Other recent episodes

The Unseen Household Tax of Global Tensions

Old Mutual’s Financial Education Programme Manager, Thabo Hollo explains how global geopolitical tensions — from oil supply shocks to inflation risks — are silently eroding household budgets. He outlines the four steps consumers should take now to protect their financial wellbeing.
30 Apr 4PM 9 min

How Online Gambling Is Reshaping SA Spending

Online betting has overtaken casinos as South Africa’s biggest gambling channel. Reona Chetty from Vouch SA explains the data behind the boom, the behavioural patterns emerging in card transactions, and the financial red flags households should watch for.
30 Apr 4PM 15 min

How to Stay Financially Afloat in 2026

With inflation rising, fuel costs climbing, and real salaries slipping, more households are using credit just to get through the month. Momentum’s Salem Nyati breaks down the behavioural shifts, the warning signs of debt distress, and the practical steps families can take to regain control.
30 Apr 4PM 9 min

SA Salary Index: Why Real Earnings Are Falling Behind

South Africans are earning slightly more on paper — but losing ground in reality. Economist Elize Kruger unpacks the latest PayInc Net Salary Index, the 1% real decline in earnings, and why rising fuel prices and corporate caution could squeeze households even further in 2026.
30 Apr 4PM 15 min

How Currency Volatility Is Hitting South African SMEs

A new Verto report warns that currency volatility is now a bigger threat to SME margins than logistics. Rumbi Shoniwa from Verto SA explains how FX swings erode profits and the practical steps SMEs can take to protect themselves.
29 Apr 3PM 11 min