Schemes
PayShap
Schemes
Immediate person-to-person payments
RPP (the Rapid Payments Programme, also known as 'PayShap') refers to credit push payments that enable an individual to make an immediate electronic payment to an account held at another financial institution. The payment is processed and cleared in real- or near-real-time.
RPP transactions can be account-based (referred to as 'pay by account'), or the payer may initiate the payment by entering a proxy value such as the beneficiary’s mobile phone number that is linked to the beneficiary's account (referred to as 'pay by proxy'). A PayShap proxy is also known as a 'ShapID'.
All PayShap transactions are processed by BankservAfrica who acts as the payment clearing house and affects the settlement for these transactions between the relevant banks' accounts at the Reserve Bank.
Electrum’s Solution
How Electrum solves for PayShap
Electrum's RPP services enable a participant to process RPP transactions via BankservAfrica with all other industry participants. The services allow for receiving inbound payments from other participants, and for sending outbound payments to accounts held at other institutions.
Rapid time to value
Realise rapid time to value with seamless integrations that allow safe adoption
Meet consumer demands
Meet consumer demands for fast, innovative payment solutions
Overlays
Overlays for proxy, QR and RTP management provides you with a turnkey solution
Electrum’s Solution
Outbound processing
Orchestrates outgoing proxy resolution, clearing, and request-to-pay
Validates industry rules
Facilitates request-to-pay lifecycle management and validation for request-to-pay
Inbound processing
Orchestrates inbound proxy resolution, clearing, and request-to-pay
Facilitates account mirroring for proxy resolution and account validation
Validates industry rules
Facilitates request-to-pay lifecycle management and validation for request-to-pay
Trusted Implementation
Electrum’s solution comes standard with a single, simplified integration into all payment schemes, allowing you to adopt new services and quickly cater to your customer’s demands. Electrum’s proven integration with BankservAfrica provides access to all NPS-regulated transaction processing.
Electrum’s Solution
Overlay services to bolster your offering
Choose from Electrum’s overlay services, including fraud and risk management services, QR code management, and cash voucher issuing and management.
These are designed to help you meet consumer demands for fast, innovative payment solutions and become an industry leader in the changing ecosystem.
Keep up with the latest trends
Built with the agility to support new and emerging transaction types, specifically when it comes to handling high-volume, low-value transactions.
Don't let your existing system hold you back!
