Nedbank Makes Payshap Request Available To All Its Clients

Chipo Mushwana, executive of Emerging Innovation and Payments at Nedbank

Spearheaded by BankservAfrica, as the scheme manager for PayShap, PayShap Request is a new feature added to the existing PayShap solution that enables users to request payments from individuals in a simple, real-time and cost-effective way. Nedbank was among the first financial institutions in South Africa to pilot PayShap Request, working closely with selected clients and businesses, and leveraging the award-winning Nedbank Money app and Avo SuperShop to test and refine the solution before its broader release. The phased approach allowed the bank to rigorously assess security, user experience and operational efficiency while gathering invaluable client feedback before the broader release.

According to Chipo Mushwana, executive of emerging innovation and payments at Nedbank, by integrating PayShap Request across its digital platforms, Nedbank is ensuring that clients can easily request and receive payments, improving financial efficiency and reducing their reliance on cash. “Having completed the pilot successfully, we are confident that PayShap Request can deliver widespread benefits to our full client base,” says Mushwana. “This full rollout is another step forward in our ongoing mission to provide inclusive and frictionless payment solutions that empower businesses and individuals in South Africa’s evolving digital economy.”

She emphasises Nedbank’s utilisation of its proven API capabilities in conjunction with PayShap Request as a means of enhancing the client experience beyond standard industry offerings, while strategically positioning the bank at the forefront of innovation in digital payments. 

“With the rising demand for instant and digital payments, Nedbank’s PayShap API functionality provides businesses with a competitive edge by allowing them to seamlessly integrate the solution into their existing payment platforms,’ she explains. ‘We believe this feature sets us apart by delivering a highly flexible and scalable approach to PayShap Request for merchants.”

The PayShap Request functionality enhances how money is requested and received, offering advantages such as instant and secure transactions and ensuring that clients can request payments and receive funds in real time, reducing dependency on cash and traditional EFTs. 

Thanks to Nedbank’s integration of this functionality across its digital channels, the convenience and accessibility of PayShap Request are further enhanced. Additionally, businesses benefit from improved efficiency, as they can streamline invoicing and payment collections, leading to better cash flow management and reduced administrative burdens.

According to Israel Skosana, chief product and scheme officer at BankservAfrica, as the industry embraces instant payment solutions, collaboration like that between itself and Nedbank is key to ensuring a seamless and inclusive financial ecosystem. “As the driving force behind PayShap, we recognise the importance of strong partnerships to accelerate digital adoption and enhance the payment experience for all South Africans,” says Skosana. He adds: “BankservAfrica is proud to support financial institutions like Nedbank in rolling out PayShap Request to the broader public, thereby offering a secure and instantaneous feature to initiate and receive payments while delivering an effective alternative to traditional payment methods.”

Mushwana is confident that, while PayShap Request is being introduced across most major South African banks, Nedbank’s unique API-driven approach and commitment to digital enablement distinguish it in the market. She points out that the bank’s focus on strategic partnerships and technological investment will ensure that its clients experience superior service and security. “As digital payments continue to redefine financial interactions, Nedbank is committed to delivering innovative solutions that enhance accessibility, convenience and financial empowerment for all South Africans.”