Quick Facts

• Money arrives in less than 10 seconds
• Works 24/7, even on weekends and holidays
• Send up to R50,000 per transaction (bank limits may vary)
• Use your cellphone number instead of account details
• Available at 12+ South African banks
• TymeBank offers free PayShap transfers

1. What is PayShap?

PayShap is South Africa’s new instant payment system. It lets you send money between banks in seconds. The money arrives in the other person’s account immediately.

PayShap was launched in March 2023. It was created by BankservAfrica and the South African Reserve Bank. The goal is to make payments faster and cheaper for everyone.

The name comes from “shap” – South African slang meaning “okay” or “cool”. PayShap means “payment is cool” or “payment is sorted”.

Key Features of PayShap

• Instant: Money arrives in less than 10 seconds
• Always available: Works 24 hours a day, 7 days a week
• No account number needed: Use a cellphone number instead
• Low cost: Cheaper than most instant payment options
• Safe: Protected by your bank’s security systems

What is a ShapID?

A ShapID is like a nickname for your bank account. Instead of sharing your full account number, you share your ShapID. Your ShapID is usually your cellphone number.

For example, your ShapID might look like: 0812345678 or 0812345678@FNB

✅ 2. How PayShap Works

PayShap works through your normal banking app. You don’t need to download anything extra. Just look for the PayShap option in your bank’s app.

Three Ways to Pay with PayShap

Step-by-Step Example

Thabo wants to pay Lindiwe R200 for lunch:

1. Thabo opens his banking app
2. He selects “PayShap” or “Pay”
3. He enters Lindiwe’s cellphone number: 0821234567
4. He enters the amount: R200
5. He checks Lindiwe’s name appears correctly
6. He confirms the payment
7. Lindiwe gets the R200 in her account within 10 seconds

3. Banks That Offer PayShap (January 2025)

PayShap now works at 12+ banks in South Africa. More banks are joining all the time. You can send money between any of these banks instantly.

💰 4. PayShap Fees by Bank (January 2025)

Each bank sets its own PayShap fees. Some banks are much cheaper than others. Compare these fees before you send money.

Money-Saving Tips

• TymeBank is free: Consider opening a TymeBank account for free PayShap
• Small amounts are often free: Payments under R100 are free at most banks
• Nedbank is cheap: Only R1 for any amount up to R3,000
• Same-bank is cheapest: Some banks offer lower fees to their own customers

Real Cost Examples

✅ 5. How to Register for PayShap

Registration is quick and easy. You do it through your bank’s app or USSD code. Most banks automatically create a ShapID for you using your cellphone number.

What You Need

• A bank account at a participating bank
• Your cellphone number linked to your bank account
• Your bank’s mobile app OR access to USSD banking
• About 2-5 minutes of your time

Step-by-Step Registration

Understanding Primary ShapID

If you have accounts at multiple banks, you can have a ShapID at each bank. But you must choose one as your “Primary ShapID”.

When someone pays you using only your cellphone number, the money goes to your Primary ShapID account. This is the account you use most often.

6. How to Send Money with PayShap

Sending money is simple once you’re registered. You can send to anyone at a participating bank. They don’t need to have a ShapID to receive money.

Steps to Send Money

1. Open your banking app and log in
2. Go to “PayShap” or “Send Money”
3. Choose “Pay” or “Send”
4. Enter the recipient’s ShapID (cellphone number) OR bank account number
5. Enter the amount you want to send
6. Add a reference (optional – like “rent” or “lunch money”)
7. Check the recipient’s name is correct – this is very important!
8. Confirm the payment with your PIN or fingerprint
9. Done! The money arrives in seconds

PayShap Limits

🆕 7. PayShap Request – Ask Someone to Pay You

PayShap Request is a new feature launched in December 2024. It lets you send a payment request to someone. They approve it, and you get paid instantly.

How PayShap Request Works

1. You send a payment request to someone’s ShapID or account number
2. They receive the request in their banking app
3. They see your name, the amount, and why you’re asking for payment
4. They can approve or decline the request
5. If they approve, the money comes to your account instantly

Who Can Use PayShap Request?

PayShap Request is available at these banks (as of January 2025):

• African Bank
• Capitec (limited to R100 requests, max R200 per day)
• Discovery Bank
• FNB (business banking only for now)
• Investec
• Nedbank
• Standard Bank
• TymeBank

Useful Situations for PayShap Request

🚨 8. Safety Tips and Scam Warnings

PayShap is safe because it uses your bank’s security. But criminals are always looking for ways to trick you. Be careful and follow these safety tips.

Critical Safety Rule

PayShap Scams to Watch Out For

How to Stay Safe

• Always verify the name: Before confirming, check that the correct name appears
• Don’t rush: Legitimate payments can wait a few minutes for verification
• Never share your PIN: Not even with bank staff or police
• Check your banking app: Don’t trust SMS notifications alone
• Call the person: If you receive an unusual request, call them directly
• Report suspicious activity: Contact your bank immediately

9. PayShap vs Other Payment Methods

South Africa has several ways to send money. Here’s how PayShap compares to other options.

When to Use PayShap

• Paying friends and family
• Paying for services like hairdressers, plumbers, or cleaners
• Splitting bills at restaurants
• Paying landlords or domestic workers
• Any payment under R3,000 that needs to arrive immediately

When to Use Normal EFT

• Large payments over R50,000
• Payments that don’t need to arrive immediately
• When you want the cheapest option (R1-R2 at most banks)

⚠️ 10. Common Problems and Solutions

11. Your Consumer Rights

As a South African banking customer, you have rights. Here’s what you need to know about PayShap and your protections.

Your Rights

• Your bank must clearly explain PayShap fees before you use it
• You can complain to the Banking Ombudsman if your bank doesn’t help you
• Your personal information is protected under the POPI Act
• You can cancel your ShapID registration at any time

Important: PayShap Payments Cannot Be Reversed

Unlike some other payment methods, PayShap payments are final. Your bank cannot force the recipient to return the money. This is why you must always check the recipient’s details carefully.

Where to Get Help

12. Our Final Recommendations

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