Bob launches new PayShap RTP feature for its Bob Pay service

Bob, a South African ecommerce and fintech company, has launched a new Real-Time Payments (RTP) feature for its Bob Pay service. This innovation, which is the result of a direct integration with PayShap, allows merchants to request and receive instant payments from customers, providing a new cost-effective and secure method for digital transactions. The fee charged to merchants for a PayShap transaction is a competitive percentage with a capped maximum fee, making it significantly more cost-effective for merchants on high-value transactions compared to traditional percentage-based card payments.

The launch of this service positions Bob Pay as one of the first payment providers in South Africa to offer this integration, and as a key step in South Africa’s effort to modernise its payments infrastructure.

The PayShap RTP feature enables customers to make payments directly from their bank accounts using their phone number or account number, without needing a pre-registered ShapID or a dedicated app. PayShap is a real-time payment platform in South Africa launched by the South African Reserve Bank (SARB) and BankservAfrica (recently rebranded to Payinc) to enable instant, low-value digital transactions using a mobile number instead of traditional bank account details. By integrating with PayShap, Bob is providing a seamless user experience that eliminates the need for physical cards or banking credentials at checkout.

Bob’s PayShap RTP feature offers distinct benefits for both merchants and customers. Merchants can receive payments instantly and track their status in real-time, which improves cash flow and speeds up service delivery. For customers, the service provides a convenient way to make payments using just a mobile or account number.

Andy Higgins, Bob’s Managing Director , explains the significance of this launch: “The South African payments landscape is in a period of exciting change, and our PayShap integration positions us as a key player. We have successfully launched our payments service for third-party merchants, including plugin support for Shopify and WooCommerce, and now support nine payment methods. We believe this is a compelling fintech opportunity, and we plan to invest significantly in this space to drive further innovation for our merchants.”