Paymentology taps Bank Zero to scale digital banking access

Paymentology has partnered with Bank Zero to expand access to digital financial services across South Africa, targeting FinTechs, SMEs, retailers and digital platforms.

The collaboration marks Bank Zero’s first alliance partnership and is aimed at enabling third-party organisations to participate more easily in the financial ecosystem. Through the tie-up, businesses will be able to launch tailored financial products using flexible card issuing on the Mastercard network, supported by digital-first infrastructure designed to streamline onboarding and reduce time to market.

Bank Zero, a branchless and app-based bank, combines its local market expertise with Paymentology’s global issuer-processing capabilities. Paymentology also brings an established operational footprint in South Africa, with more than two decades of on-the-ground processing experience across Africa. The firms said the partnership is structured to meet local regulatory requirements, including data residency obligations, while supporting scalable growth.

The move comes as South Africa’s payments landscape undergoes rapid digitalisation. While cash remains prevalent, adoption of digital payment methods has accelerated. Industry data indicates that more than 70% of consumers have used digital wallets such as Apple Pay or Google Pay, over 60% of in-person transactions are now contactless, and roughly 90% of SMEs have adopted digital payments. This shift is creating demand for more flexible and accessible financial infrastructure.

Kesheni Moodley, Regional Director for Africa at Paymentology, said, “Successful partnerships are built on a shared vision. From our earliest conversations with Bank Zero, it was clear we shared the same goal of solving real customer challenges and building infrastructure that puts the user experience first. 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.”

Lezanne Human, Co-Founder of Bank Zero, added, “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.”

The partnership reflects a broader trend in the FinTech sector, where collaboration between digital banks and infrastructure providers is enabling embedded finance models. By lowering barriers to entry and accelerating product deployment, such alliances are expected to play a key role in expanding financial inclusion and driving innovation in emerging and established markets alike.