PayShap has processed 905 million transactions since its March 2023 launch. Six million users are registered across 14 participating banks. Cumulative value reached R403 billion by December 2025. The system nearly doubled its transaction count in the five months after that milestone. Adoption accelerated following the October 2024 limit increase from R3,000 to R50,000.
The average ticket size has declined to R498 per transaction, indicating penetration into micro-payments previously dominated by cash. PayInc Chief Product Officer Israel Skosana confirmed that the operator's focus has shifted from peer-to-peer transfers to merchant payments and e-commerce. Head of Business Development Enoch Malisa said the benchmark for success is whether township retailers and underserved communities participate meaningfully in digital payments.
The South African Reserve Bank acquired a 50% stake in PayInc in late 2025, underscoring the system's national importance to payment infrastructure. PayShap's six million users represent modest penetration in a country of 60 million people. India's PhonePe adds a million users every six days, making PayShap's three-year user growth equivalent to roughly five weeks of Indian adoption.