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South Africa
PayShap
Scheme name: PayShap
IIPS Type: Bank
Instruments: Credit EFT
Channels: Agent, Branch, USSD, App, Browser, POS, ATM, NFC
Use cases: Transfers & remittances (P2P)
Inclusivity level: Not ranked
Year of establishment: 2023
System owner: BankservAfrica
Overseer: South African Reserve Bank
Operator: BankservAfrica
Total Participants: 10
Volumes 2023: 18,000,000
Values 2023: 588,096,918 USD
Back to map| Category | PayShap |
|---|---|
| Geographic reach | Domestic |
| Geographic description | South Africa |
| Scheme governance | BankservAfrica and PASA |
| Settlement agent | South African Reserve Bank |
| Participants - commercial banks | 10 |
| Participants - MMOs | 0 |
| Participants - non-bank PSPs | 0 |
| Participants - MFIs | 0 |
| US$ Exchange Rate 30 April | 18.7044 |
| Values 2023 not-on-us transactions (US$) | 588,096,918 USD |
| Values 2023 on-us transactions (US$) | N/A |
| Total value of instant payment transactions 2023 (US$) | 588,096,918 USD |
| Interoperability arrangement | Payment system operator |
| Ownership model | Participant-owned |
| Governance Typology | Private association |
| Scheme rules shared or publically available? | No |
| Messaging standard | ISO 20022 |
| Types of proxy IDs | Mobile phone number |
| Use of open APIs | Yes |
| QR code standard | N/A |
| Pro-poor governance | Yes |
| CB governance involvement | No |
| Expanded use Cases | No |
| Minimum channel functionality | Yes |
| Minimum use case functionality | No |
| All licensed PSPs can participate (all-to-all interoperability) | No |
| Recourse | No |
| Not-for-loss | No |
| Status | Potential to reach progressed level |
| Strengths/drivers | Fulfilment of basic criteria provides a good base to progress further on the inclusivity spectrum. PayShap has already fulfilled criteria of central bank involvement and pro-poor governance as part of progressed criteria. The expansion of participation to non-banks which is already in the works with the potential integration of a non-bank PSP. |
| Areas of development | The development areas to reach a progressed level include expanding participation to all licensed non-banks. This will also require integration of non-banks in the governance process, to keep fulfilling the requirements for pro-poor governance. Beyond the progressed level, PayShap can look at expanding further use cases, consumer recourse, as well as exploring a not-for-loss/non-profit business model to reach mature level. |
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