SA's new instant digital payment system is at least six times faster than banks' current instant payment services, and will still be cheaper, too. | News24_Business
Banks say Payshap will be the cheapest way to send money immediately, cheaper than their own instant money services.Banks say it will be the cheapest way to send money immediately, and will be even cheaper than their own instant money services.For more financial news, go to the SA's new instant digital payment system is at least six times faster than banks' current instant payment services, and will still be cheaper, too. "We wanted it to be cash-like.
Tshazibana said most people still prefer to take their cash in hand, particularly domestic workers, hawkers and people living in townships and rural areas. Many are concerned about bank charges. Furthermore, with money in the bank, it takes money to get it out because they have to travel to get to ATMs.
"It doesn't matter who you bank with, whether you decide to hold your money or what you want to pay for … Payshap has been built with the end-user in mind," said Pilbauer.
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