PayShap, South Africa’s real-time digital payments platform, is accelerating the rollout of its latest feature, PayShap Request, which is gaining traction among financial institutions and fintech partners. A broader national launch is expected later this year.
Introduced in December 2024, PayShap Request offers an alternative way to make digital payments by allowing payees to initiate real-time, interbank payment requests. Once the payer approves the request, the funds are transferred instantly, providing a seamless and secure payment experience.
According to BankservAfrica, the operator of PayShap in partnership with the South African Reserve Bank, this feature empowers individuals, small businesses, merchants, and corporates to “own the way they pay and get paid—in seconds.”
- Merchants or individuals send a PayShap Request using the payer’s bank account details or ShapID.
- The payer receives the request and approves it.
- The payment is processed in real time, clearing instantly between banks.
This functionality simplifies transactions for merchants and consumers, reducing reliance on cash and improving payment security.
The service is already live with major South African banks, including:
- African Bank
- Capitec
- Discovery Bank
- FNB
- Investec
- Nedbank
- Standard Bank
- TymeBank
In addition, Ozow, a leading fintech platform, became the latest partner to adopt PayShap Request in the past month. BankservAfrica confirmed that more partners—including fintechs, mobile networks, and retailers—are expected to join by year-end, significantly broadening access.
BankservAfrica emphasized that PayShap Request is a key step toward real-time payments access and financial inclusion, aligning with South Africa’s growing digital economy. The organization highlighted its commitment to forging new partnerships with licensed participants to unlock more opportunities for innovation.
“We are excited to see how fintechs are leveraging PayShap Request. This aligns with our broader participation strategy,” said BankservAfrica. “In line with regulatory shifts, we welcome the opportunity to expand partnerships and support South Africa’s digital transformation.”
PayShap Request is more than just a payment feature—it’s part of a broader strategy to modernize South Africa’s payment ecosystem, reduce cash dependency, and enable instant, secure, and convenient transactions for everyone from individuals to large corporates.
