PayShap, which aims to reduce South Africans’ dependence on cash and build trust in digital payment methods, makes payments safer, faster, and more cost-effective. “With the aim of digitising cash payments,
TymeBank has already been offering customers different low-cost instant payment options for some time now. However, we have been eagerly awaiting our turn to join the PayShap revolution. By making PayShap to mobile-numbers free, we are giving all our individual and business customers the opportunity to fully enjoy the benefits of real-time digital payments across banks without having to worry about transaction fees,” says TymeBank chief commercial officer Cheslyn Jacobs.
With PayShap, TymeBank customers can now enjoy:
“Built as a South African payments industry initiative, PayShap has been changing the way South Africans pay since its market launch in March.
"We are extremely excited to welcome TymeBank to this exciting space that offers a wide range of benefits for individuals and small merchant account holders,” says Mpho Sadiki, chief product officer at BankservAfrica.
PayShap is being released to the market in two stages. The second leg will introduce an additional request-to-pay function which makes it possible for a person to request payment and receive money securely and immediately in their bank account.