.BankServAfrica targets South Africa’s nine million unbanked with PayShap. CapitecBankSA DigitalBanking DigitalEconomy
by industry players as a game-changer in SA’s digital payments ecosystem, PayShap allows South African bank account-holders to instantly pay and receive money between participating banks.
“The biggest two challenges that keep me awake at night are the UX [user experience] and on education to ensure customers get to a point where they are comfortable with using a proxy instead of a card number. A fully-embedded business function called “Request-To-Pay” is expected to launch between the fourth quarter of 2023 and first quarter of 2024, he added.
Also speaking during the discussion, Busi Radebe, head of card and electronic payments at Capitec Bank, explainedthis service will solve a number of business challenges, particularly for informal merchants.
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