Select Countries and Regions

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
CategoryPayShap
Geographic reachDomestic
Geographic descriptionSouth Africa
Scheme governanceBankservAfrica and PASA
Settlement agentSouth African Reserve Bank
Participants - commercial banks10
Participants - MMOs0
Participants - non-bank PSPs0
Participants - MFIs0
US$ Exchange Rate 30 April18.7044
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 arrangementPayment system operator
Ownership modelParticipant-owned
Governance TypologyPrivate association
Scheme rules shared or publically available?No
Messaging standardISO 20022
Types of proxy IDsMobile phone number
Use of open APIsYes
QR code standard N/A
Pro-poor governanceYes
CB governance involvementNo
Expanded use CasesNo
Minimum channel functionalityYes
Minimum use case functionalityNo
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo
StatusPotential to reach progressed level
Strengths/driversFulfilment 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 developmentThe 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.

African IPS Map

Selected Country
Live IPS
IPS in development
No data
Select region to view data