PayShap has processed 905 million transactions since its March 2023 launch. Six million users are now registered on the platform. By December 2025, the system had settled 461 million transactions. Cumulative value through December 2025 reached R403 billion. Transaction volume nearly doubled in the five months to May 2026.
Average ticket sizes have declined to R498. The South African Reserve Bank acquired a 50 percent stake in PayInc in late 2025. PayInc is now formally pivoting PayShap toward merchant payments and e-commerce.
Fees exceeding R50 for larger transfers have drawn criticism for undermining the system's financial inclusion mandate. USSD access, critical for informal traders without smartphones, remains unavailable.