South Africa Real Time Payments Industry Overview
With consumer preferences changing rapidly, the market has become a lucrative option and, thus, has attracted huge investments. Due to the huge growth potential, the market is moving towards fragmentation due to the new entrants. The service providers are engaging in partnerships to promote product innovation.
In February 2023, Real-time payment software provider ACI Worldwide announced extending its real-time payment software offerings. In addition, the company is now the driving force behind 25 domestic and pan-regional real-time schemes on six continents, including nine central infrastructures, and offers solutions to central banks, participating banks, fintechs, and other payment service providers.
In May 2022, South African mobile pay platform Zapper announced that merchants could accept tap-on-phone payments. This was expected to give them access to almost all digital payments without needing other point-of-sale (POS) hardware, and it won't matter whether customers have the Zapper app.
South Africa Real Time Payments Market Leaders
-
PayU
-
iVeri
-
Fiserv Inc
-
MyGate
-
Peach Payments
- *Disclaimer: Major Players sorted in no particular order
