PayShap processed 905 million cumulative transactions through May 2026. At the end of December 2025, the total stood at 461 million. The platform averaged approximately 14 million transactions per month across its first 33 months of operation. In the five months through May 2026, monthly averages accelerated to roughly 89 million.
Cumulative transaction value reached R403 billion through December 2025. The implied average transaction size was approximately R874. PayShap has enrolled six million registered users. BankservAfrica is expanding the platform beyond peer-to-peer transfers into merchant payments.
BankservAfrica has acknowledged that transaction fees and inconsistent user experience across banking apps have constrained adoption. PayShap's three-year user acquisition roughly matches PhonePe's five-week expansion in India, according to TechCentral analysis. The South African Reserve Bank acquired a 50% stake in PayInc, the entity governing PayShap, in October 2025. South Africa's National Payment System reform, expected in 2026, will open the system to non-bank payment service providers.