--- title: GoTyme dares rival banks to make instant payments free description: GoTyme Bank customers now originate about 26% of South Africa's PayShap cellphone payments. The digital bank is challenging rival banks to make instant... canonical: https://daily.dev/posts/gotyme-dares-rival-banks-to-make-instant-payments-free-qfew59nj5 twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: GoTyme dares rival banks to make instant payments free | daily.dev og:description: GoTyme Bank customers now originate about 26% of South Africa's PayShap cellphone payments. The digital bank is challenging rival banks to make instant... og:url: https://daily.dev/posts/gotyme-dares-rival-banks-to-make-instant-payments-free-qfew59nj5 og:image: https://api.daily.dev/og/posts/Qfew59NJ5.png og:image:alt: GoTyme dares rival banks to make instant payments free og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # GoTyme dares rival banks to make instant payments free **[TechCentral](https://daily.dev/sources/techcentral)** · 3 min read · 0 upvotes · 0 comments ## Summary GoTyme Bank customers now originate about 26% of South Africa's PayShap cellphone payments. The digital bank is challenging rival banks to make instant payments free like it does. Almost 70% of GoTyme customer payments are now instant and free, saving customers more than R150-million a year in fees. CEO Cheslyn Jacobs says GoTyme's app automatically routes payments through PayShap as the cheapest option. GoTyme now has more than 13 million customers and expects to become South Africa's third-largest bank by active users by Q1 2027. Total income rose 25% to R2.72-billion. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### What percentage of South Africa's PayShap payments come from GoTyme Bank customers GoTyme Bank customers originate about 26% of South Africa's PayShap cellphone payments. PayShap, run by PayInc (formerly BankservAfrica), lets people send money instantly between banks using a cellphone number as a ShapID instead of an account number. PayInc said the system passed one billion cumulative transactions, processing more than 60 million a month. _Developers tracking fintech payment rail adoption in South Africa can follow updates like this on daily.dev._ ### Why are PayShap instant payments slow to catch on among South African banks High fees and inconsistent user experiences across banking apps have slowed PayShap adoption, PayInc has acknowledged. GoTyme CEO Cheslyn Jacobs has argued that big banks face a conflict of interest because promoting a low-cost payment rail like PayShap eats into their own fee income, unlike GoTyme, which routes payments through it by default as the cheapest option. _Anyone evaluating payment infrastructure trade-offs can keep up with how incentives shape adoption via daily.dev._ ## Similar posts on daily.dev - [GoTyme braces for customer churn as it forces app migration](https://daily.dev/posts/gotyme-braces-for-customer-churn-as-it-forces-app-migration-nzozkqyoa) · TechCentral · 0 upvotes · 0 comments - [Three years in, PayShap pivots to merchants](https://daily.dev/posts/three-years-in-payshap-pivots-to-merchants-qmkisfsef) · TechCentral · 0 upvotes · 0 comments - [The conflict of interest at the heart of PayShap’s slow adoption](https://daily.dev/posts/the-conflict-of-interest-at-the-heart-of-payshap-s-slow-adoption-xyrmmorme) · TechCentral · 0 upvotes · 0 comments - [FNB launches eWallet on WhatsApp as it overhauls service](https://daily.dev/posts/fnb-launches-ewallet-on-whatsapp-as-it-overhauls-service-402csztbo) · TechCentral · 0 upvotes · 0 comments --- Tags: [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/gotyme-dares-rival-banks-to-make-instant-payments-free-qfew59nj5) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"GoTyme dares rival banks to make instant payments free","url":"https://daily.dev/posts/gotyme-dares-rival-banks-to-make-instant-payments-free-qfew59nj5","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/gotyme-dares-rival-banks-to-make-instant-payments-free-qfew59nj5"},"datePublished":"2026-10-29T10:50:47.735Z","dateModified":"2026-10-29T10:51:25.673Z","description":"GoTyme Bank customers now originate about 26% of South Africa's PayShap cellphone payments. 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PayShap, run by PayInc (formerly BankservAfrica), lets people send money instantly between banks using a cellphone number as a ShapID instead of an account number. PayInc said the system passed one billion cumulative transactions, processing more than 60 million a month. Developers tracking fintech payment rail adoption in South Africa can follow updates like this on daily.dev."}},{"@type":"Question","name":"Why are PayShap instant payments slow to catch on among South African banks","acceptedAnswer":{"@type":"Answer","text":"High fees and inconsistent user experiences across banking apps have slowed PayShap adoption, PayInc has acknowledged. GoTyme CEO Cheslyn Jacobs has argued that big banks face a conflict of interest because promoting a low-cost payment rail like PayShap eats into their own fee income, unlike GoTyme, which routes payments through it by default as the cheapest option. Anyone evaluating payment infrastructure trade-offs can keep up with how incentives shape adoption via daily.dev."}}]} ```