South African Reserve Bank Grants Paycorp Direct Clearing System Participation

Paycorp, an independent player in South Africa’s payments arena, has secured a direct clearing system participant license from the South African Reserve Bank (SARB). This pivotal move enables Paycorp to seamlessly channel payment transactions directly into the National Payments System via BankServ Africa, and globally through its primary memberships with Visa and MasterCard.

Paycorp’s diverse offerings encompass interoperable solutions for ATM/point-of-sale (POS) networks, card issuers, acquirers, and fintech partners. Operating across Southern Africa, Central and Eastern Europe, and the United Kingdom, Paycorp specializes in payment processing services.

With subsidiaries spanning multiple countries, Paycorp manages a vast network of ATMs, offers ATMs-as-a-service, and facilitates a range of payment services including transaction processing for ATM and POS terminals. The company’s processing platform is designed to seamlessly integrate with various partners, catering to both traditional payment rails and innovative avenues like cardless mobile wallet transactions.

Gavin Reubenson, CIO of Paycorp, emphasized that the SARB license represents the culmination of strategic collaborations and technical innovation, positioning Paycorp as a fintech leader.

Wayne Abramson, CEO of Paycorp’s ATM Solutions, underscored the significance of the designation in fostering financial inclusion and solidifying Paycorp’s role as a reliable, secure, and strategic partner for diverse businesses seeking effective payment solutions.