Paymentology and Bank Zero Partner to Support Digital Banking Expansion in South Africa
Paymentology has partnered with Bank Zero in a move aimed at expanding access to digital banking services in South Africa. The collaboration is designed to help fintechs, small and medium-sized enterprises (SMEs), retailers and digital platforms deliver tailored financial products through a more flexible and digital-first infrastructure.
Under the partnership, Paymentology will provide the infrastructure needed to make it easier for organisations to participate in financial services. Bank Zero, a branchless and app-driven bank, brings its digital banking capabilities to the alliance, while Paymentology contributes more than 20 years of card processing experience in Africa.
The companies said the arrangement combines local market understanding with scalable payments infrastructure and operational expertise. It is also structured to meet South Africa’s regulatory requirements, including data residency obligations.
Flexible card issuing and faster onboarding
The partnership will enable businesses to offer financial products through flexible Mastercard card issuing. According to the companies, the digital-first setup is intended to simplify onboarding, improve the customer experience and reduce time to market for new offerings.
Paymentology said the collaboration creates new opportunities for businesses to innovate and scale within South Africa’s payments sector. Kesheni Moodley, Regional Director for Africa at Paymentology, said the partnership combines global card processing expertise with Bank Zero’s digital banking capabilities and the two companies’ local presence in the country.
“By combining our global card processing expertise with Bank Zero’s digital banking capabilities, alongside our shared strong local presence in South Africa, we are creating new opportunities for businesses to innovate and scale in the country’s rapidly evolving payments landscape,” Moodley said.
Growing digital adoption, but cash remains important
South Africa has a developed financial sector, but cash continues to play a significant role in daily transactions. At the same time, digital payment usage is increasing. The source notes that more than 70% of consumers have used digital wallets such as Apple Pay or Google Pay, more than 60% of in-person payments are contactless, and 90% of SMEs have adopted digital payments.
These figures suggest that the market is shifting steadily toward digital channels, creating opportunities for service providers that can support faster onboarding, broader product access and more efficient payment infrastructure.
Lezanne Human, Co-Founder of Bank Zero, said the partnership is intended to simplify customer offerings and make them more accessible for both businesses and customers.
“South Africa has a strong financial system, but there is still significant opportunity to simplify the customer offering, making it more easily accessible and faster for businesses and customers alike. We are excited about opening up new possibilities for those organisations looking to participate in the financial ecosystem, through our Paymentology partnership,” Human said.
Industry Analysis
The partnership reflects a broader trend in African financial services toward modular, partner-led banking infrastructure. As digital adoption accelerates in South Africa, banks and fintech enablers are increasingly focusing on faster product deployment, compliance readiness and infrastructure that can support diverse business models. The combination of card issuing capability, local regulatory alignment and app-based banking may help lower barriers for non-bank businesses seeking to enter the financial ecosystem.
For the market, such collaborations could support wider access to digital financial products while allowing providers to respond more quickly to consumer and SME demand. In a market where cash usage still remains meaningful, solutions that blend digital convenience with local relevance may be especially well positioned to grow.
