PayShap Questions and Answers (what is a ShapID, ShapName and more)
Payshap was launched on 13 March 2023 by the South African Reserve Bank and BankservAfrica as a new digital payment method. If you would like to know more about this innovative payment system, be sure to read all about PayShap here.
PayShap was as an additional, instant payment service provided by South Africa’s “big 4” banks (Absa, FNB, Standard Bank, and Nedbank.) It is a payment method accessible through mobile and internet banking. It provides instant, safe, and convenient digital cash transfers in real-time.
It has also been stated that in the preceding months, banks such as Capitec, Investec, Discovery, TymeBank, Sasfin, and Standard Chartered will soon also offer the PayShap service.
The main purpose of PayShap is to encourage economic growth and establish digital ecosystems within various communities. PayShap is industry driven and hopes to address key areas of focus of the South African Reserve Bank (SARB), BankservAfrica, and the Payments Association of South Africa. These areas of focus range from financial inclusion, to people being less dependent on cash, and developing an integrated platform for high volume, low value digital payments.
1. What is a ShapID?
A ShapID is the cellphone number you registered when you first opened your bank account – this number will be used for all your PayShap payments (i.e. become your ShapID).
When you register your cellphone number for payment, your bank will aid you in registering it as your ShapID, as well as your Primary ID. This means that when you provide only your cellphone number for payment, the money will be automatically transferred to associated bank account linked to your cellphone number.
You also have the option to register the same cellphone number with all your bank accounts, granted your banks offer PayShap. Should you have a ShapID at more than one bank, you will then need to provide both your cellphone number and the name of the bank in which you want to receive payments to.
Should you only provide your cellphone number but be linked to PayShap in more than one bank, the payment will then go directly to the bank account linked with your Primary ShapID.
If you want to change your ShapID from one bank to another, you will then need to deregister your Primary Shap ID with your current bank account before re-registering at the other.
READ: PayShap FAQ’s (part 1)
2. What is a ShapName?
A ShapName is a specific type of ShapID that is used by business accounts. A ShapName is a unique identifier that comprises of letters, numbers, or both. ShapNames are used to receive payments without businesses having to share their banking account details.
3. Can you reverse a PayShap transaction?
Once you have sent a payment through PayShap, you cannot reverse it as the transaction has been finalized. Therefore, it is your responsibility to ensure that before you finalize a transaction, you confirm that you are paying the correct person. The bank will assist you in this process by providing you with the recipient’s bank account number, ShapID, as well as their “known as” name.
4. Who can I contact for assistance?
If you find that an error has occurred with your PayShap transaction, you can contact your relevant bank for assistance, support, or queries. PayShap is a service offered through partnered banks, and is therefore covered by the bank’s unique security features.
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For any further queries, please contact SASSA directly:
Contact the SASSA Toll Free Call centre on: 0800 60 10 11
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