HONG KONG, Sept. 3, 2026 /PRNewswire/ — PhotonPay, the next-generation financial operating system, today announced the launch of its local account capability in South Africa, enabling businesses to collect South African Rand (ZAR) through local payment networks and manage those funds through a unified global platform.
South Africa continues to strengthen its position as a digital and commercial hub in Africa. At the beginning of 2025, the country had 50.8 million internet users, with internet penetration reaching 78.9%.¹ Its digital economy is also creating new opportunities for international businesses, with the U.S. International Trade Administration noting continued growth in e-commerce and mobile commerce in its 2026 market assessment.²
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At the same time, South Africa has a highly developed domestic payments infrastructure, with multiple payment rails serving different transaction needs. The South African Reserve Bank (SARB) has been advancing the country’s payments ecosystem toward faster, more interoperable digital payments. PayShap, launched in 2023, had processed approximately 260 million transactions worth ZAR 215 billion by March 2025.³
For global businesses entering the market, however, accepting local payments can still be operationally complex. Customers may prefer familiar domestic payment methods, while businesses need to manage local collections, reconciliation and fund movement alongside their existing global payment operations.
PhotonPay’s new ZAR local account capability is designed to address these challenges by giving businesses a more direct way to collect from customers in South Africa while keeping their funds within a unified global financial operating system.
Collect in ZAR Through Local Payment Networks
With PhotonPay’s South Africa local account, businesses can receive ZAR-denominated local transfers through major domestic payment networks, including RTGS, RTC, PayShap, EFT and ACH.
Instead of requiring customers to navigate an international wire process, businesses can provide local account details for ZAR payments. This allows South African customers to pay through familiar domestic banking channels, helping businesses reduce payment friction and create a more seamless local payment experience.
The capability is designed to support a range of business models, including cross-border e-commerce, developer platforms and B2B trade, where reliable local collection can directly affect payment completion, cash-flow management and day-to-day operations.
For businesses, the benefits extend beyond simply receiving payments:
- A more local payment experience: Customers can pay in ZAR through familiar domestic banking channels, without having to initiate an international transfer.
- Faster access to funds: Local collections support T+0 to T+1 crediting, helping businesses reduce the time funds remain in transit and improve cash-flow visibility.
- Built-in compliance and risk controls: PhotonPay applies transaction-level compliance and risk management based on business context, transaction activity, fund flows and relevant supporting documentation, helping businesses manage local collections within a controlled operating framework.
The launch in South Africa marks another step in PhotonPay’s expansion across emerging markets, helping businesses meet local payment needs while managing their global operations. Looking ahead, PhotonPay will continue expanding its local capabilities across key markets, giving businesses more efficient ways to collect, move and manage funds as they grow globally.
About PhotonPay
PhotonPay is a stablecoin-powered financial operating system built for global infrastructure. Designed for modern enterprises, PhotonPay enables businesses to send, receive, convert, and settle funds across both fiat and stablecoin rails through a single, compliance-first integration, spanning 200+ countries and territories.
For more information, visit [www.photonpay.com].
Data Source
- https://datareportal.com/reports/digital-2025-south-africa
- https://www.trade.gov/country-commercial-guides/south-africa-ecommerce
- https://www.resbank.co.za/content/dam/sarb/publications/fintech/SARB%20retail%20CBDC%20Background%20Note_Final%20November%2020251125.pdf
Disclaimer
This material is for general informational purposes only and does not constitute legal, regulatory, tax, accounting, or investment advice, nor an offer or solicitation for any product or service. The availability, features, and regulatory treatment of PhotonPay’s products and services may vary depending on the user’s location, business model, and the laws and regulations that apply. Any descriptions of functionality, performance, efficiency, cost savings, or compliance support (including, without limitation, references to “real‑time”, “24/7”, “high‑efficiency”, or “compliant” solutions) are aspirational or forward‑looking in nature. Actual outcomes may differ due to market conditions, technological constraints, and regulatory developments, and PhotonPay makes no express or implied representation, warranty, or guarantee as to the achievement of any particular result.
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SOURCE PhotonPay
