As instant payments move into the mainstream in South Africa, PayShap has crossed a major threshold. The real-time payments service backed by BankservAfrica and the country’s banking sector said it surpassed one billion cumulative transactions on 18 June 2026.
The milestone reflects a sharp rise in day‑to‑day use, with monthly volumes now exceeding 60 million transactions. The acceleration points to growing comfort among consumers and businesses with sending and receiving money instantly across participating banks.
Attention now turns to scaling capacity and reliability, broadening participation, and embedding instant payments into more everyday use cases as volumes continue to climb. For more detail, read the full announcement.