Paycorp Advances Financial Inclusion in SA through SARB Approval and Card Alliances

Paycorp, a prominent payment solutions provider, has gained clearance from the South African Reserve Bank (SARB) as a direct clearing system participant. This accreditation empowers Paycorp to directly process payment transactions within the National Payments System through BankServ Africa and internationally via its primary memberships with Visa and MasterCard.

Functioning as an independent non-bank entity in South Africa’s payment ecosystem, Paycorp offers interoperable solutions to ATM/point-of-sale (POS) networks, card issuers, acquirers, and fintech partners.

Gavin Reubenson, CIO of Paycorp, underscores that this achievement is the result of strategic partnerships and an unrelenting pursuit of technological advancement. Reubenson notes, “Paycorp facilitates seamless and secure financial transactions. As an innovative fintech, we consistently refine our offerings to ensure this.”

With a steadfast commitment to financial inclusion spanning over twenty years, Paycorp previously owned and operated businesses locally and internationally across various payment segments including ATM, acquiring, issuing, and value-added services.

The company’s Cash Express ATM network stands as South Africa’s largest independent ATM network, strategically placing ATMs in proximity to residential, commercial, and retail spaces in collaboration with banks and retailers.

Paycorp and its subsidiaries offer an array 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 emphasizes ongoing enhancements to their transaction processing environment to bolster customer experiences, expand value-added services, and bridge the gap between digital and physical transactions.

Wayne Abramson, CEO of ATM Solutions at Paycorp, underscores that 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.