Can I use PayShap for my small business?

Yes. You can use PayShap for your small business straight from the GoTyme Bank app. Send customers a Payment Request to get paid or pay suppliers and staff with an Instant Payment via PayShap. The money arrives instantly and there is nothing extra to sign up for.

What you need to get started with Instant Payments via PayShap

• Download the GoTyme Bank app. PayShap is switched on automatically, so there is no registration.
• Your cellphone number. Your ShapID is linked to it, so customers can pay you without your account number.
• The other person's details. A cellphone number or account number, plus the name of their bank.

The limits and costs to know

You can send up to R50,000 a day with Instant Payments via PayShap. Instant Payments up to R5,000 are free and a flat R7 applies from R5,001 up to the R50,000 limit. Sending a Payment Request is free and receiving money is always free. For a payment above R50,000, use a Standard Payment, which is free and lands at another bank within 1 to 3 business days.

Good habits from day one

Always add a clear reference, like an invoice number, so every payment is easy to match. Check the registered name before you confirm a payment. And remember that a PayShap payment cannot be reversed once you authorise it, so double-check the amount first.

Open the GoTyme Bank app and get started with Instant Payments via PayShap.