The prominent payment solutions provider, Paycorp, has received clearance from the South African Reserve Bank (SARB) as a direct clearing system participant.
The accreditation gives power to the company to directly process payment transactions within the National Payments System through BankServ Africa and internationally via its primary memberships with Visa and MasterCard.
Paycorp functions as an independent non-bank entity in South Africa’s payment ecosystem, and it offers interoperable solutions to ATM/point-of-sale (POS) networks, card issuers, acquirers, and fintech partners.
The CIO of Paycorp, Gavin Reubenson said this achievement is the result of strategic partnerships and an unrelenting pursuit of technological advancement. Reubenson also mentions that Paycorp facilitates seamless and secure financial transactions. As an innovative fintech, we consistently refine our offerings to ensure this.
Previously, Paycorp owned and operated businesses locally and internationally across various payment segments including ATM, acquiring, issuing, and value-added services, and it has a steadfast commitment to financial inclusion spanning over twenty years. The company’s Cash Express ATM network stands as South Africa’s largest independent ATM network.
The company and its subsidiaries offer a number of payment services encompassing transaction processing for ATM and POS terminals, comprehensive ATM network management, and ATMs as a Service (AaaS) in multiple countries.
Paycorp’s secure processing platform seamlessly integrates with numerous partners, covering traditional payment rails like Visa, MasterCard, and BankservAfrica, along with cardless cash-out transactions from mobile wallets.
Reubenson stressed that ongoing enhancements to their transaction processing environment to bolster customer experiences, expand value-added services, and bridge the gap between digital and physical transactions.
The CEO of ATM Solutions at Paycorp, Wayne Abramson said this designation reinforces their commitment to financial inclusion and solidifies Paycorp’s position as a reliable strategic partner for businesses seeking secure and dependable payment solutions.
Paycorp improves Financial Inclusion in South Africa
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