Mobile payments company Paymentology introduces PayoCard, aiming to broaden mobile-centric access to credit and debit card services throughout South Africa.
PayoCard by Paymentology Revolutionizes Digital Banking in South Africa
PayoCard, a new mobile-first card management platform, has been launched by Paymentology, a global issuer-processor, to simplify and accelerate the launch and management of digital card programs in South Africa. The platform is specifically designed for digital banks and fintechs, with a focus on financial inclusion.
Key features of PayoCard include quick deployment, user self-service controls, security and compliance, financial inclusion focus, operational efficiency for issuers, scalability, and flexibility.
With PayoCard, fintechs and banks can launch card services rapidly with minimal technical overhead. The platform allows cardholders to manage their cards directly through a mobile app, offering real-time balance checks, PIN resets, card freezes, and access to in-app customer support, reducing reliance on call centers or ATMs.
The platform is PCI-compliant from day one, with built-in fraud controls and data protection measures to ensure secure card management. PayoCard is tailored to reach underserved populations such as gig economy workers and informal earners who may lack traditional banking access but have mobile connectivity, thus promoting wider financial inclusion.
By enabling users to self-manage their cards, PayoCard reduces manual support requests and operational pressure on program managers while improving user experience. Its Modular Digital Card Engine allows issuers to expand and customize card programs over time using software development kits (SDKs) and application programming interfaces (APIs).
Through its partnership with Mastercard, Paymentology is enabling banks, fintechs, and retailers to issue compliant physical and virtual cards at speed, particularly in underserved communities. PayoCard is the first digital card platform provided by a processor in South Africa.
The card payments market in South Africa is projected to reach $206.2 billion by 2029, growing at a CAGR of 6.7%. With 91% of South Africans owning a mobile phone, PayoCard presents a clear, mobile-first path to financial services adoption for many South Africans, particularly those who may receive disbursement or loyalty cards as their first formal payment tool.
PayoCard simplifies the process of delivering responsive, mobile card services for banks and fintechs. It builds trust through digital familiarity and prepares cardholders to do more, from everyday transactions to managing more advanced financial products in the future. Paymentology's recent expansion of its regional headquarters to Sandton, Johannesburg, signifies its commitment to the South African market.
Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology, aims to empower banks and fintechs to launch impactful card programmes faster and reach the customers who need them most. With PayoCard, Paymentology is one step closer to achieving this goal.
[1] Paymentology Press Release, "Paymentology Launches PayoCard, a Mobile-First Card Management Platform for Digital Banks and Fintechs in South Africa," [Date], URL
[2] Paymentology, "PayoCard: Empowering Your Customers with a Seamless Mobile Experience," [Date], URL
[3] Mastercard Newsroom, "Mastercard and Paymentology Expand Collaboration to Increase Access to Digital Payments in South Africa," [Date], URL
[4] Finextra, "Paymentology Launches PayoCard for Digital Banks and Fintechs in South Africa," [Date], URL
[5] Payments Cards and Mobile, "Paymentology's PayoCard: A Mobile-First Card Management Platform for Digital Banks and Fintechs in South Africa," [Date], URL
- The new PayoCard platform, developed by Paymentology, is specifically designed for digital banks, fintechs, and other businesses in the finance industry, with a focus on financial inclusion and compliance as key features.
- With PayoCard, fintech and banking institutions can effectively reach underserved populations such as gig economy workers and informal earners, who may lack traditional banking access but have mobile connectivity, thus promoting wider financial inclusion.
- Paymentology, in partnership with Mastercard, is enabling fintechs, banks, and retailers to issue compliant physical and virtual cards quickly, particularly in underserved communities, utilizing technology for efficient and secure card management.
