.BankservAfrica collaborates with the banking industry to introduce the PayShap real-time payments system. DigitalEconomy ITinBanking
rapid payments system, an inter-banking payment programme to provide a real-time digital payments service.
It also seeks to make conducting transactions without the need for bank account details possible. This is done through public and private identifiers, such as a registered mobile number or an e-mail address. “While the focus at launch is on person-to-person payments, every South African, including small business owners and merchants, to commercial businesses, stand to benefit from this service, which becomes a viable alternative to cash.”to unify SA’s entire banking sector under the common goal of modernising the industry to include citizens who have historically relied on cash as their primary payment method and introduce them to a mobile-friendly instant payment platform.
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