What are the benefits of PayShap for my small business?

PayShap helps your business get paid faster and pay others without waiting for money to clear. Payments arrive instantly at any time of day. With GoTyme Bank, Instant Payments are free up to R5,000. Here is what that means for the way you run your business.

Six benefits for small business owners

• Better cash flow. Money that arrives instantly is money you can use today to restock or pay a supplier.
• No more fake proof of payment. You see the money reflect in your own account before the goods leave your hands.
• Get paid without a card machine. Send a customer a Payment Request via PayShap and they approve it in their own banking app.
• Open when your customers are. PayShap runs 24 hours a day, 365 days a year, so a Sunday market or late order still gets paid.
• Costs you can predict. Sending a Payment Request is free and receiving money is always free. Instant Payments up to R5,000 are free and a flat R7 applies from R5,001 up to the R50,000 limit.
• Nothing to install. PayShap is switched on automatically in the GoTyme Bank app.

Small changes that add up

Think about the hours a week your business spends waiting for an EFT to clear, checking whether a screenshot is real or driving to the ATM to pay someone in cash. PayShap takes those steps away. Paying suppliers on the spot can also help you build trust and secure stock when it is in short supply.

Open the GoTyme Bank app and start getting paid instantly via PayShap today.