Paycorp champions financial inclusion in South Africa with SARB designation and Visa & MasterCard principal membership
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.
