{"id":844767,"date":"2025-11-27T11:33:37","date_gmt":"2025-11-27T09:33:37","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=844767"},"modified":"2025-11-27T11:33:41","modified_gmt":"2025-11-27T09:33:41","slug":"south-african-bank-moving-big-in-international-markets","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/844767\/south-african-bank-moving-big-in-international-markets\/","title":{"rendered":"South African bank moving big in international markets"},"content":{"rendered":"\n

The Tyme Group has signed a new deal with Visa, which is expected to expand its presence in South Africa and Southeast Asia. <\/p>\n\n\n\n

The Tyme Group is the owner of TymeBank, South Africa\u2019s first profitable digital bank, which launched in February 2019. <\/p>\n\n\n\n

The bank has R7 billion in customer deposits, 1,000 kiosks, and 15,000 retail points across the country. <\/p>\n\n\n\n

Its 11 million customers make it the nation\u2019s third-largest bank by customer base in the country. <\/p>\n\n\n\n

While starting out as a South African businesses, Tyme Group, which is now headquartered in Singapore, expanded to the Philippines in 2022.\u00a0<\/p>\n\n\n\n

The group also has its technology and product development hub in Vietnam, with plans to launch a new bank in the nation. Across its total operations, the Tyme Group serves 20 million customers. <\/p>\n\n\n\n

The group has now signed a new multi-year, multi-market deal with Visa, which aims to accelerate financial inclusion and digital payment innovation in South Africa, the Philippines and Vietnam.\u00a0<\/p>\n\n\n\n

As part of the partnership, Visa will support Tyme Group\u2019s expansion across multiple regions, including TymeBank in South Africa, through enhanced card issuance programmes and value-added services. <\/p>\n\n\n\n

Visa will also provide tailored support for the banking group across marketing, product development and infrastructure enhancement, and data-driven financial services. <\/p>\n\n\n\n

This aims to provide secure, seamless, and innovative payment services in key emerging markets.<\/p>\n\n\n\n

\u201cThis multi-year, multi-market partnership reflects our shared ambition to accelerate digital adoption, broaden financial inclusion, and bring innovative, low-cost banking solutions to millions,\u201d said Lineshree <\/strong>Moodley, Visa Country Manager for South Africa.<\/p>\n\n\n\n

\u201cTogether, we\u2019re helping more people take part in the digital economy by bringing the benefits of innovation, safety, and connection to every corner of our country,\u201d said Lineshree <\/strong>Moodley, Visa Country Manager for South Africa.<\/p>\n\n\n\n

\u201cWe\u2019re making digital payments more inclusive, secure, and effortless for all South Africans.\u201d<\/p>\n\n\n\n

Coenraad Jonker, CEO of Tyme Group, added that the latest development is a significant milestone in the bank\u2019s relationship with Visa and aims to bring world-class financial services to emerging markets. <\/p>\n\n\n\n

\u201cWe\u2019re excited to deepen our impact in South Africa, the Philippines and Vietnam, empowering consumers and small businesses through secure, accessible, and innovative payment experiences,\u201d said Jonker. <\/p>\n\n\n\n

A new era for TymeBank <\/h2>\n\n\n
\n
\"\"<\/a><\/figure><\/div>\n\n\n

TymeBank is set to rebrand in the first half of 2026, changing its name to GoTyme, the same name as the group\u2019s operations in the Philippines.\u00a0<\/p>\n\n\n\n

Local customers will also soon be able to get their Smart IDs and passports from TymeBank\u2019s kiosks across the country, with the bank joining the Home Affairs\u2019 plan to expand the service. <\/p>\n\n\n\n

The local division will also have a new CEO in 2026, with Chief Commercial Officer Cheslyn Jacobs assuming the role. <\/p>\n\n\n\n

He will replace Karl Westwig, who will take on an advisory role.<\/p>\n\n\n\n

The Prudential Authority of the South African Reserve Bank has already approved Jacobs\u2019 appointment. <\/p>\n\n\n\n

Jacobs was part of the founding team of TymeBank and joined Tyme in 2012 as a Sales and Distribution Manager.\u00a0<\/p>\n\n\n\n

TYME (Take Your Money Everywhere) was originally a Deloitte consulting project funded by MTN. <\/p>\n\n\n\n

Jacobs would later become National Operations Manager at Tyme Infield. He was then appointed as the Head of Sales and Services in 2019, when TymeBank launched. <\/p>\n\n\n\n

Jacobs, who studied a BCom in Industrial Psychology at the University of the Western Cape, was then promoted to Chief Commercial Officer in 2022.<\/p>\n\n\n

\n
\"\"<\/a>
Incoming TymeBank CEO Cheslyn Jacobs<\/figcaption><\/figure><\/div>\n\n\n
\n","protected":false},"excerpt":{"rendered":"

The Tyme Group is expanding across Southeast Asia, and has signed a new partnership with Visa. <\/p>\n","protected":false},"author":95,"featured_media":844776,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[23854,13455],"class_list":["post-844767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-gotyme","tag-tymebank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844767","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=844767"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844767\/revisions"}],"predecessor-version":[{"id":844781,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844767\/revisions\/844781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/844776"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=844767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=844767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=844767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}