We compared the price offerings from the four banks that launched with BankservAfrica new real-time payments service this week.
PayShap, a new real-time payment service, launched this week in partnership with four South African banks – and some offer better fee incentives than others.
Banks supporting the PayShap protocol let customers link their cellphone numbers to their bank accounts, allowing customers to use these “ShapIDs” instead of bank account numbers to receive payments. Absa currently charges R45 for PayShap transactions over R1,000, while a non-real-time EFT costs only R1.
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