Paycorp champions financial inclusion in South Africa with SARB designation and Visa & MasterCard principal membership - August 29, 2023
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Paycorp champions financial inclusion in South Africa with SARB designation and Visa & MasterCard principal membership

Tuesday, August 29, 2023

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Company: Paycorp Group

Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard.

As an independent non-bank participant in the payments landscape in South Africa, Paycorp provides interoperable solutions to ATM/point-of-sale (POS) networks, card issuers, acquirers and fintech partners.

The move is the culmination of years of strategic partnerships, and a relentless focus on technological advancement, says Gavin Reubenson, CIO of Paycorp.

“Paycorp enables people and businesses to connect with their money. As a forward-thinking fintech, we are driven to constantly redefine our offering to ensure seamless and secure delivery of financial transactions,” says Reubenson.

For over two decades, Paycorp has been committed to expanding financial inclusion; previously owning and operating businesses, locally and internationally, across the payments landscape, in ATM, acquiring, issuing and value added services.

Paycorp owns and operates the largest independent ATM network in South Africa through its Cash Express ATM network. The company partners with banks and retailers to place ATMs close to where people live, work and shop.

Paycorp and its subsidiaries also provide a broad number of payment services. These include transaction processing for ATM and POS terminals, managing an extensive network of ATMs and providing ATMs as a Service (AaaS) in South Africa, Namibia, Hungary, Slovakia, Croatia and the Czech Republic.

The company’s processing platform integrates securely with multiple partners, from traditional Visa, Mastercard and BankservAfrica payment rails to cardless cash-out transactions from mobile wallets.

“Our transaction processing environment is continuously enhanced and optimised to improve the customer experience, expand value added services, and bridge the gap between digital world and physical cash,” says Reubenson.

Wayne Abramson, CEO of ATM Solutions at Paycorp, says, “This designation reinforces our dedication to fostering financial inclusion. It also positions Paycorp as a strategic partner for businesses that need seamless, secure, and reliable payment solutions. ”


About Paycorp

Paycorp, a global payments company headquartered in South Africa, operates in Southern Africa and Eastern Europe with offices in seven countries. With almost 25 years of experience, Paycorp is a respected payments provider that offers a wide range of payment products and services, including ATMs, cash management, transaction processing, value-added services and business funding.

For more information about Paycorp and its range of payment solutions, please visit www.paycorp.co.za.


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