Payments glossary
PayShap
PayShap is South Africa's real-time rapid payments service, launched in 2023 by BankservAfrica with the country's major banks. It moves money between bank accounts in seconds, around the clock, and lets payers use a ShapID proxy - such as a mobile number - instead of an account number.
What is PayShap and how does it work?
PayShap is the rapid payments service built by BankservAfrica together with South Africa's major banks, launched in 2023. Each payment is cleared individually in real time rather than in overnight batches: the payer initiates from their banking app using either full account details or a ShapID proxy, and the recipient has usable funds in seconds - at any hour, on any day, including weekends and public holidays.
Why PayShap matters for commerce
Slow EFTs leave orders in limbo and invite forged proof-of-payment screenshots; cash carries handling cost and risk. PayShap removes both problems for account-to-account payments: the merchant gets immediate, bank-confirmed certainty that money has arrived, and the ShapID proxy cuts out the failed payments caused by mistyped account numbers. It was designed deliberately to make low-value digital payments practical for everyday use.
PayShap on LekkaPay
PayShap is coming soon to LekkaPay checkouts, joining live bank-payment options such as Instant EFT - details on the PayShap page.
Frequently asked questions
What is a ShapID?
A ShapID is a proxy that stands in for bank account details - commonly a mobile number - registered with the customer's bank. Paying a ShapID means never sharing or mistyping an account number; the receiving bank resolves it to the correct account instantly.
How is PayShap different from a normal EFT?
A traditional EFT clears in batches and commonly reflects in one to three business days, on business days only. PayShap clears each payment individually in seconds, every day of the year, and confirms the outcome to both parties immediately.
Can merchants accept PayShap online?
PayShap began as a person-to-person service, and merchant-facing capabilities such as payment requests are rolling out through banks and payment providers. On LekkaPay, PayShap is coming soon as a checkout method.
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