The Tyme Group, owner of TymeBank, South Africa’s first profitable digital bank, has announced a new multi-year, multi-market partnership with Visa aimed at accelerating financial inclusion and digital payment innovation in South Africa, Southeast Asia, and beyond.
TymeBank, launched in February 2019, has grown into South Africa’s third-largest bank by customer base, serving 11 million customers. The bank boasts R7 billion in deposits, a network of 1,000 kiosks, and 15,000 retail points nationwide.
While Tyme started as a South African venture, the group—now headquartered in Singapore—expanded to the Philippines in 2022 and operates a technology and product development hub in Vietnam, where it plans to launch a new bank. Across all markets, Tyme serves 20 million customers.
Visa Partnership: Driving Innovation and Inclusion
Under the new agreement, Visa will support Tyme Group’s expansion through:
- Enhanced card issuance programs
- Value-added services
- Marketing and product development support
- Infrastructure and data-driven financial solutions
The collaboration aims to deliver secure, seamless, and innovative payment experiences in key emerging markets, enabling millions to participate in the digital economy.
Lineshree Moodley, Visa Country Manager for South Africa, commented:
This multi-year, multi-market partnership reflects our shared ambition to accelerate digital adoption, broaden financial inclusion, and bring innovative, low-cost banking solutions to millions. Together, we’re making digital payments more inclusive, secure, and effortless for all South Africans.
Coenraad Jonker, CEO of Tyme Group, added:
This milestone deepens our relationship with Visa and strengthens our mission to deliver world-class financial services in South Africa, the Philippines, and Vietnam. We’re committed to empowering consumers and small businesses through secure, accessible, and innovative payment experiences.
TymeBank will undergo a major rebrand in early 2026, adopting the name GoTyme, aligning with the group’s Philippine operations.
Additional developments include:
- Smart ID and passport services at TymeBank kiosks, in partnership with Home Affairs
- Appointment of Cheslyn Jacobs as CEO in 2026, succeeding Karl Westwig, who will move into an advisory role
Jacobs, a founding member of TymeBank, has been with the group since 2012 and currently serves as Chief Commercial Officer. His appointment has been approved by the Prudential Authority of the South African Reserve Bank.
