Key Findings
- 1SARB and BankservAfrica data show PayShap crossed 100m transactions in Mar 2026. The transaction mix reveals where it's cannibalising cash — and where it isn't.
Overview
PayShap processed 108m transactions in Mar 2026 with a monthly value of R38bn , up from 12m and R4.7bn in Mar 2024.
"Where it's winning P2P proxy payments (ShapID) account for 58% of transaction count."
57% of Sub-Saharan African adults remain unbanked — representing the world's largest financial inclusion opportunity.
Mobile-first fintech platforms are uniquely positioned to capture this 350M+ person market.
Why this matters now
The SARB National Payment System Framework and Strategy Vision 2025 set a target of 1bn PayShap transactions annually by 2027. Current run-rate: ~1.3bn.
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