Payment methods in South Africa

Generic online and mobile bank-transfer methods (internet banking, e-banking, EFT and interbank transfers). Customers pay directly from their bank account via their bank's own online/mobile banking portal. Implementation and rails differ by country, but the consumer flow is a standard account-to-account bank transfer.

Scan to Pay (formerly Masterpass) is the largest QR payment ecosystem in South Africa, processing approximately 12 million transactions per month. It is supported by multiple South African banks and enables payments via a common QR standard across different bank apps.

Buy Now, Pay Later services including Payflex and PayJustNow have gained significant traction in South Africa, particularly in fashion, electronics, and homewares. They allow consumers to split purchases into interest-free monthly instalments, with BNPL transactions expected to double by 2026 according to the Payments Association of South Africa.

SnapScan (owned by Standard Bank) is a South African QR code payment app allowing consumers to scan a merchant's QR code and pay from a linked card or bank account. It has strong penetration among South African small businesses, restaurants, and markets, and supports online payments through merchant integrations.

Zapper is SnapScan's main competitor in the South African QR payment space. It enables in-store and online payments using a QR scan from the Zapper app. Zapper also offers a digital loyalty and rewards component, which drives repeat usage among its merchant and consumer base.

PayShap is South Africa's new real-time interbank payment system launched in 2023 by BankservAfrica, enabling instant low-value payments between bank accounts using a ShapID (phone number or national ID). It is positioned as South Africa's equivalent of UK Faster Payments or India's UPI, with growing merchant adoption as an alternative to card and EFT.

1Voucher is a cash-bought prepaid PIN voucher South Africans redeem to pay at online checkouts without a bank card. Operator: 1ForYou (Pty) Ltd. Est. users: >1M users (2024, est.).

Blu Voucher is a 16-digit prepaid voucher purchased with cash at retailers and redeemed online for cardless payments. Operator: Blu Label Telecoms (Blu Approved). Est. users: >500,000 users (2024, est.).

Capitec Pay lets the bank's clients authorize online and merchant payments directly from the Capitec app without sharing card details. Operator: Capitec Bank Ltd. Est. users: 24M+ bank clients (2024).

Ozow is South Africa's leading instant-EFT (open-banking) method letting shoppers pay online directly from their bank account by approving a transfer. Operator: Ozow (Pty) Ltd. Est. users: ~49M linked bank accounts (2024).

Avo is Nedbank's super app combining an e-commerce marketplace with a digital wallet for online shopping and payments by anyone. Operator: Nedbank Group. Est. users: 2M+ users (2023).

Discovery Bank is a fully digital South African bank issuing rewards-linked cards used for online and contactless payments. Operator: Discovery Bank Ltd. Est. users: 1M+ clients, 2M+ active accounts (2024).

FNB Pay provides FNB customers a dynamic-CVV virtual card for contactless tap-to-pay and secure online payments via digital wallets. Operator: First National Bank (FirstRand). Est. users: Millions of FNB clients (2024, est.).

Happy Pay is a South African buy-now-pay-later service splitting purchases into interest-free instalments at online and in-store checkout. Operator: Happy Pay (Pty) Ltd. Est. users: 600,000+ registered users (2026).

Hello Paisa is a South African remittance wallet with a Visa debit account letting migrants send money, get paid and shop online. Operator: Hello Paisa (Hello Group). Est. users: Large migrant user base (2024, est.).

Instant Money is Standard Bank's cardless voucher service letting anyone send and redeem money via a cellphone number or PIN at retailers and online. Operator: Standard Bank of South Africa. Est. users: 200,000+ new digital senders in one year (2024).

TymeBank is South Africa's leading digital bank offering low-cost accounts and debit cards usable for online and in-store payments. Operator: Tyme Bank Ltd. Est. users: 10.7M customers (2024).

VodaPay is Vodacom's super app and wallet for online shopping, QR payments and bills via embedded mini-app merchants. Operator: Vodacom Group. Est. users: ~7M users (2024, est.).

Chipper Cash is a pan-African wallet for free cross-border transfers, bill pay, virtual cards and online payments across seven markets. Operator: Chipper Technologies Inc. Est. users: 7M+ users (2024).

Instant EFT is one of South Africa's most popular online payment methods, enabling customers to make real-time bank-to-bank payments directly from their internet banking without sharing card details. Providers such as Ozow and PayFast facilitate Instant EFT integration for merchants, providing near-instant payment confirmation. It is used across all segments of e-commerce and is particularly strong for higher-value transactions.