{"id":769283,"date":"2024-04-24T12:06:22","date_gmt":"2024-04-24T10:06:22","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=769283"},"modified":"2024-04-24T12:06:28","modified_gmt":"2024-04-24T10:06:28","slug":"payshap-is-coming-to-mtn-momo-with-investecs-help","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/769283\/payshap-is-coming-to-mtn-momo-with-investecs-help\/","title":{"rendered":"Payshap is coming to MTN MoMo &#8211; with Investec&#8217;s help"},"content":{"rendered":"\n<p>MTN SA is partnering with Investec to introduce PayShap to its MoMo platform.<\/p>\n\n\n\n<p>PayShap is a real-time payment service created by BankservAfrica, the Payments Association of South Africa and the South African Reserve Bank.<\/p>\n\n\n\n<p>Its aim is to reduce South Africa&#8217;s dependence on cash and make payments faster, safer and more cost-effective. <\/p>\n\n\n\n<p>Initially launched with Absa, FNB, Nedbank, and Standard Bank in March 2023, before launching with Discovery Bank, Tymebank and Capitec in August 2023. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"1oHbb9onHq\"><a href=\"https:\/\/businesstech.co.za\/news\/banking\/714438\/south-africas-new-payment-system-is-now-on-tymebank-and-its-free\/\">South Africa&#8217;s new payment system is now on TymeBank &#8211; and it&#8217;s free<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;South Africa&#8217;s new payment system is now on TymeBank &#8211; and it&#8217;s free&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/banking\/714438\/south-africas-new-payment-system-is-now-on-tymebank-and-its-free\/embed\/#?secret=0mPBZIOvST#?secret=1oHbb9onHq\" data-secret=\"1oHbb9onHq\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>MoMo is the first non-banking business to offer PayShap, with the partnership aimed at serving the unbanked population through an accessible and low-fee mobile banking product, <\/p>\n\n\n\n<p>Investec is the banking sponsor, while Electrum acts as a technical partner to ensure the seamless implementation of PayShap. <\/p>\n\n\n\n<p>The partnership draws inspiration from successful global models, such as Reliance JIO and UPI Autopay in India, where 80% of transactions are made through a similar rapid payment product. <\/p>\n\n\n\n<p>The availability of PayShap on the MoMo platform is still subject to all necessary approvals, and African Bank remains the sponsor bank for the MoMo wallet. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/finance\/769263\/this-is-the-average-take-home-pay-in-south-africa-right-now-with-some-positive-signs\/\">This is the average take-home pay in South Africa right now \u2013 with some positive signs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MTN is working with Investec to introduce Payshap to its MoMo platform.<\/p>\n","protected":false},"author":95,"featured_media":681837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[4762,26,1498,28],"class_list":["post-769283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-african-bank","tag-headline","tag-investec","tag-mtn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/769283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=769283"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/769283\/revisions"}],"predecessor-version":[{"id":769306,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/769283\/revisions\/769306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/681837"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=769283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=769283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=769283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}