Pay anyone, anywhere, anytime from as little as R1

Payments have come a long way in the past few decades. Looking at the history of payments, electronic funds transfers (EFTs) have made it easier to pay others, but they aren't as immediate as cash and require entering account details. And real-time clearance (RTC) fees were too expensive and still required accurate account information. However, volumes have gone up by 45% in the past year as banks reduced fees - indicating pent-up demand for affordable instant payments.

Introducing PayShap

PayShap addresses the issues of real-time payments and the need for account information by offering consumers a more affordable and simpler way to instantly pay someone. Banks in South Africa have introduced PayShap as an alternative payment option with a different payment process and fees compared to real-time payments. Since its launch three months ago, PayShap now accounts for 0.4% of all RTC payments in South Africa.

Integrating PayShap into the Discovery Bank ecosystem

By integrating PayShap into our existing payment ecosystem, we can offer our clients a single, easy way to make instant payments with a consistent fee structure. Our systems will automatically choose the most efficient payment network for each transaction.

With the integration of PayShap, you can now make convenient and affordable real-time payments to anyone, anywhere, and at any time, starting from just R1.

We make digital payments more accessible and affordable

At Discovery Bank, our instant payment fees are lower than the average in the market for most payment amounts. Additionally, Discovery Bank Black Transaction Account (bundled fees option), Black Suite, and Purple Suite clients receive 30 free real-time payments per month.

How to use PayShap

To send and receive PayShap payments, you need to bank with a bank that offers PayShap, like Discovery Bank. You can then pay others or be paid instantly yourself using either a ShapID (bank-registered cellphone number) or bank account details.

Set up your Discovery Bank ShapID in your banking app today

Get the convenience of receiving payments without giving out your banking details:

For more info about PayShap, visit the Payments section on Info and tips and see your latest fees guide.