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PayShap for business

Payshap for business product detail

PayShap for business is a simple, cost-effective, immediate payment system. It allows you to make and receive payments to and from other parties using a cellphone number or account number linked to a registered ShapID, even if they bank with other banks. The PayShap feature can be accessed using our mobile banking app.

 

 

Some of the benefits

No banking details needed

Use your bank-registered cellphone number for easier payments

Faster payments

Funds get paid into your or your recipient’s bank account within minutes

Convenient

There’s no need to wait for branch or retail hours as you can transact 24/7
How to get it
  • You can register a ShapID, which is a unique identifier, on our mobile Banking App. Your cellphone number is an example of a ShapID
  • Steps to get PayShap as follows 
    • Step 1: Log on to the mobile Banking App
    • Step 2: Click on "Manage"
    • Step 3: Click on PayShap and add your ShapID
    • Step 4: Complete PayShap registration
    • Step 5: Click on PayShap to make payments
  • Your ShapID means you no longer need to remember or share your account details
  • You can receive money directly into your bank account by giving someone your ShapID (or cellphone number) when requesting a payment
  • Payments are irrevocable
  • NOTE: Only the recipient needs to share a ShapID to perform a transaction
*Both banks need to offer PayShap for the transaction to be processed
What it costs
  • Registration for PayShap is free
  • There is a maximum limit of R3 000 per transaction
  • The payer will be charged a fee of R7.50 per transaction
How it works

To send money:

  • Sign in to your mobile Banking App, select “Pay” and then select “PayShap”
  • Enter the ShapID details  of the person you want to pay 
  • If the ShapID exists, you will see a green success message
  • If you use a cellphone number, you will see the name of the person you want to pay, but the name will be partially hidden
  • If you use a custom ShapID, you will see the name of the person you want to pay
  • If the ShapID does not exist, you will see a red error message
  • Confirm the ShapID details with the recipient before continuing with the payment

To receive money:

  • Download our Banking App and follow the prompts to register for PayShap.
  • Provide the payer with your cellphone number or ShapID to receive money directly into your bank account
  • Once the payment is complete, the money is available to use immediately

Learn how to make payments using your Banking App by following the step-by-step guide on our Help Centre.

  • How to get it
  • What it costs
  • How it works
  • You can register a ShapID, which is a unique identifier, on our mobile Banking App. Your cellphone number is an example of a ShapID
  • Steps to get PayShap as follows 
    • Step 1: Log on to the mobile Banking App
    • Step 2: Click on "Manage"
    • Step 3: Click on PayShap and add your ShapID
    • Step 4: Complete PayShap registration
    • Step 5: Click on PayShap to make payments
  • Your ShapID means you no longer need to remember or share your account details
  • You can receive money directly into your bank account by giving someone your ShapID (or cellphone number) when requesting a payment
  • Payments are irrevocable
  • NOTE: Only the recipient needs to share a ShapID to perform a transaction
*Both banks need to offer PayShap for the transaction to be processed
  • Registration for PayShap is free
  • There is a maximum limit of R3 000 per transaction
  • The payer will be charged a fee of R7.50 per transaction

To send money:

  • Sign in to your mobile Banking App, select “Pay” and then select “PayShap”
  • Enter the ShapID details  of the person you want to pay 
  • If the ShapID exists, you will see a green success message
  • If you use a cellphone number, you will see the name of the person you want to pay, but the name will be partially hidden
  • If you use a custom ShapID, you will see the name of the person you want to pay
  • If the ShapID does not exist, you will see a red error message
  • Confirm the ShapID details with the recipient before continuing with the payment

To receive money:

  • Download our Banking App and follow the prompts to register for PayShap.
  • Provide the payer with your cellphone number or ShapID to receive money directly into your bank account
  • Once the payment is complete, the money is available to use immediately

Learn how to make payments using your Banking App by following the step-by-step guide on our Help Centre.

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Simply download the application form below and email it to us to get this solution for your business.