Paymentology, a global issuer-processor, has introduced PayoCard, a mobile-first card management platform designed to support digital banks and fintech firms in South Africa.
Developing responsive mobile card services has often been a resource-intensive and technically demanding task for banks and fintechs, requiring substantial infrastructure and extended development timelines.
PayoCard, built on Paymentology’s cloud-based platform, aims to simplify this process.
It offers a plug-and-play solution that enables issuers to provide cardholders with self-service features such as real-time balance updates, PIN changes, card freezing, and in-app support, all within a single mobile application.
In South Africa, many individuals are first introduced to formal financial services through disbursement or loyalty cards.
PayoCard seeks to offer an accessible and user-friendly mobile app from the outset, helping users become familiar with digital tools for managing their finances and potentially easing their transition to more advanced financial products in the future.
Shahez Shawana, Group Product Manager at Paymentology, said:
“For many cardholders, accessing basic card functions still means standing in a queue or waiting on hold, a far cry from what a digital card experience should be. With PayoCard, we’re helping digital banks and fintechs offer a truly mobile-first experience that gives customers control, confidence, and convenience.”
For financial institutions, PayoCard is positioned as a quicker route to market with reduced integration complexity.
It is fully PCI DSS compliant and includes built-in self-service tools that aim to ease the burden on customer support operations and reduce operational costs, while still meeting end-user expectations.
Cardholders can use PayoCard to independently manage their accounts via mobile devices, removing the need to visit ATMs or contact call centres for basic services.
This includes checking balances, adjusting settings, and accessing assistance on demand.
South Africa’s card payments market is projected to reach US$206.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.7%.
With 91% of the population owning a mobile phone and demand for real-time digital services increasing, platforms like PayoCard offer a potential route for issuers to extend financial services more efficiently and inclusively.
The launch of PayoCard is part of Paymentology’s broader expansion efforts in South Africa.
The company recently moved its regional headquarters to Sandton, Johannesburg, and continues to grow its portfolio of local partnerships.
Originating in South Africa, Paymentology supports card programmes for a number of institutions including Standard Bank, Old Mutual Bank, Mukuru, Altech, Adumo, Liberty Group, and Tyme.
Paymentology has also strengthened its partnership with Mastercard, working together to improve access to digital payments in South Africa.
The collaboration allows banks, fintechs, and retailers to issue both physical and virtual cards more efficiently, with a focus on reaching underserved communities.
Featured image credit: Edited by Fintech News Africa, based on image by Kathrine Heigan via Unsplash
