PayShap

Safe, easy, instant

Are you tired of standing in long ATM queues, carrying cash around or the frustration of not being able to make a payment quickly?

Say goodbye to cash and hello to PayShap – the future of digital payments in South Africa.

What is PayShap?

PayShap is a payment method that allows you to pay or be paid instantly, up to R3 000 per transaction, by using just a mobile phone number (ShapID), business name (Shap Name) or traditional bank account details. As an Investec Private Bank or Business Account holder, you can enjoy the convenience of PayShap on our state-of-the-art digital channels, Investec Online and the App.

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Individuals

Transactions up to R500 are free Transactions above R500 incur a fee (please refer to our fee schedule).

Business

PayShap transactions for businesses will incur a fee (please refer to our fee schedule).

Low-value payments at competitive or no fees

HOW TO USE PAYSHAP ON INVESTEC ONLINE AND THE APP AND WHERE TO USE PAYSHAP

How to set up PayShap

To set up PayShap, look for the PayShap icon on Investec Online or the Investec App and register.

Keep in mind, PayShap payments can only be made to participating banks.

If you register Investec as your primary ShapID, payments will be seamlessly deposited into your linked Investec account and you do not have to share your bank name and account number with anyone who wants to pay you.

Where to use PayShap

PayShap is ideal for instant low value transactions such as craft and food markets, private tutors and au pairs, general maintenance services and mobile payment app users.

It's perfect for anyone who wants a quick and easy way to make and receive payments securely.

MORE INFORMATION

PayShap fact sheet PDF 142.13 KB

Is PayShap immediate?

PayShap transactions are processed instantly, and the money is available in the recipient’s bank account within seconds.
How does PayShap work?
- PayShap is an instant low value account-based payment. Payments are processed through the central clearing house,
  BankservAfrica and clear faster than existing account-based payments.
- As a Private Bank Account holder, you can use PayShap on our digital channels, the Investec App and Investec Online
- You can use the mobile number you have registered with Investec to register for PayShap.
- Your ShapID is linked to your selected Investec Private Bank Account.
- PayShap payments can only be made to participating banks.
- If you register your ShapID as a primary ShapID with Investec, you provide only your cellphone number and payments will be
  seamlessly deposited into your linked Investec account and you do not have to share your bank name and account number with
  anyone who wants to pay you.