PayShap processed 461 million transactions worth R403 billion from its March 2023 launch through the end of 2025. The system had processed 74.2 million transactions worth R46 billion through October 2024. Roughly 387 million new transactions and R357 billion in value flowed through the system in the subsequent 14 months.
Independent research examining 228,000 consumer bank accounts in June 2025 found that PayShap accounts for a small share of daily debit activity. At Absa, where adoption reaches 68 percent of customers, PayShap represents 6.9 percent of debit transactions. Capitec shows 35 percent customer adoption. PayShap represents only 2 percent of Capitec's debit transactions. The average PayShap transfer ranges from R300 to R385 depending on the bank. Per-transaction fees range from R6 at Capitec to R10 at Nedbank.
South Africa's fee-based model contrasts with the three largest instant payment systems by volume. Brazil's PIX, India's UPI, and the UK's Faster Payments all operate with zero consumer fees. PayInc has registered 4.5 million ShapIDs. The per-transaction limit stands at R50,000 since its increase from R3,000 in August 2024. PayShap Request, which launched in December 2024 through Ozow and other providers, may shift usage toward merchant-initiated flows where businesses absorb the per-transaction cost.