PayShap – making instant digital payments simple

Most of us like to have cash in hand to buy what we need as we go about our daily lives. It’s the fastest way to pay for goods or services on the spot, and when you get paid in cash, the money is available straight away to pay for whatever you need. That’s why cash is still king for many of us, especially entrepreneurs running small or microenterprises on tight budgets.

There are some drawbacks to transacting only in cash, however. It’s a security risk – if you keep all your earnings and savings in cash, a theft could leave you with nothing.


Introducing PayShap: another way to make banking as convenient as cash

Luckily, through the rapid, ongoing innovation of digital banking, Nedbank offers safer and more convenient ways to pay even the most committed fans of cash. Using the Nedbank Money app, Online Banking or Cellphone Banking, you can link a variety of affordable transactional accounts to your ShapID, giving you the option of making or receiving payments instantly without cash changing hands.


You need a ShapID only to receive PayShap payments, not to make them


Using your cellphone, smart device or computer to pay or get paid instantly just got easier with the arrival of our new payment method, PayShap. Nedbank, along with Absa, FNB, Capitec, Discovery and Standard Bank, have launched this payment option so that clients can pay for day-to-day transactions with the same speed and ease as paying in cash. The bonus is reducing the amount of cash you have on you, so you’re less vulnerable to theft.


Signing up for your ShapID is super-fast

To be clear: PayShap is not an app, a product, or a platform. It’s an instant payment system designed to offer the best online payment method as fast as cash. The secret to instant digital payments is your ShapID – a unique identification number linked to your bank account that allows you to receive payments in real time. It takes only moments to sign up for your ShapID digitally.

Once you have a ShapID, you don’t have to send branch codes, account types or account numbers to someone who wants to pay you digitally – all they need to know is your ShapID. And you need a ShapID only to receive PayShap payments, not to make them.

If you bank with Nedbank, Absa, FNB, Capitec, Discovery or Standard Bank and you want to pay someone via PayShap, log on to your preferred banking channel and select PayShap in the payment options. Then all you need do is enter the recipient’s ShapID and the amount, then finalise the payment. The money will show in their account instantly.


Get digitally active and win the trip of a lifetime!

Nedbank is giving away 3 fantastic travel vouchers worth R60,000 each! All you need do to stand a chance of winning a dream vacation is make a transaction on 1 of our digital banking channels – the Money app, Online Banking or Cellphone Banking*120*001#.
Terms and conditions apply.