PayShap reached 905 million cumulative transactions by May 2026. The total nearly doubled from the 461 million recorded five months earlier in December 2025. Six million users registered ShapIDs on the platform as of May 2026. Monthly transaction volumes grew from approximately six million in 2024 to 45 million by late 2025.
Cumulative transaction value reached R403 billion through December 2025. The average payment size across those 461 million transactions was R874. Eighty percent of payments are valued below R500. The per-transaction limit was raised from R3,000 to R50,000 in August 2024. The South African Reserve Bank acquired a 50 percent stake in operator PayInc in October 2025.
PayInc has pivoted toward merchant acceptance with QR-based point-of-sale capabilities. India's PhonePe acquires in five weeks the user base that PayShap gained in three years.