Bank fees, a lack of features and low consumer awareness have slowed uptake of the PayShap rapid payments platform.
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Myriad factors have contributed to the “slow” adoption of digital payment rails in South Africa.
Change Logic played a pivotal role in the successful deployment of BankservAfrica’s highly successful PayShap.
BankservAfrica is working to integrate QR code payment support into rapid payments platform PayShap.
Instant payments are key to growing the regional economy, but the use of the US dollar adds unnecessary costs.
The Reserve Bank is working to drive financial inclusion by digitising cash and making instant payments across borders an everyday reality.
BankservAfrica’s latest update to real-time payments platform PayShap is designed to drive uptake of the service.
Investec is launching a payments system for its corporate clients to process high-volume, low-value payments.
BankservAfrica has increased the upper payment limit for PayShap transactions from R3 000 to R50 000.
FNB now facilitates real-time cross border payments in South Africa, Namibia, Lesotho and Eswatini.