Mastercard has launched real-time payments in South Africa, the first market to benefit from the new service.

Rolled out in partnership with global payments technology provider ACI Worldwide, the technology will enable South African merchants to receive same day payouts, and issuing banks in South Africa to process real-time card payments.

The move aims to boost transparency between customers and financial institutions while providing faster payments transactions and accurate insights into users’ funds.

Other services will include the introduction of real-time clearing and more frequent settlement cycles, seeking to provide better cashflow management and faster funds availability.

The initiative aligns with the South African Reserve Bank’s (SARB) National Payments System Strategy Vision 2025, focused on modernising and enhancing the country’s payment systems to strengthen and drive financial inclusion.

Key goals of the strategy include promoting competition and innovation, implementing robust risk management frameworks and cybersecurity measures, and making payment systems more affordable for users.

Gabriel Swanepoel, Southern Africa country manager at Mastercard said the initiative signals a significant leap forward in the modernisation of payments in South Africa, as consumer expectations and the needs of businesses continue to evolve.

“By enhancing processing standards and delivering faster clearing and settlement, we aim to support small businesses with better cash flow and enable acquirers to manage liquidity more effectively,” continued Swanepoel. “This innovation supports SARB’s vision and reflects our commitment to driving inclusive economic growth, ensuring that every transaction is not just faster but more secure, efficient, and accessible.”

Earlier this week, the payment solution provider announced the acquisition of Minna Technologies, an embedded subscription management service, for an undisclosed amount
Minna Technologies says it is the only business to business to consumer (B2B2C) platform with an automated subscription management engine, bank-grade compliance, and global subscriptions and payments coverage.

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