MTN South Africa has partnered with Investec and Electrum to introduce PayShap on its Mobile Money platform, aiming to revolutionize digital payments.
PayShap offers real-time, low-fee interbank digital payment solutions to the unbanked population, promoting financial inclusivity. The platform has gained momentum with over one million transactions in its first six months since its launch in 2023, signaling a shift towards faster, safer, and more affordable transactions in the country.
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Electrum’s technical expertise will ensure the seamless integration of PayShap into the MoMo platform, drawing insights from globally successful models like Reliance Jio and UPI AutoPay in India.
Pending regulatory approvals, PayShap’s availability on MTN MoMo is expected to offer a transformative experience in mobile payments, with African Bank remaining the sponsor bank for the MoMo wallet.
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