In a recent blog post, CGAP authors Joep Roest and Bongani Maponya wrote about the transformative power of open government-to-person (G2P) systems to connect G2P recipients with different Payment Service Providers (PSPs) in order to make the best choice, thereby incentivizing improved services from PSPs.
The post was also a case study on how South Africa’s TymeBank, a member of the SME Finance Forum member Tyme Group, realized the long-term profitability potential of G2P recipient customers, worked to understand customers’ needs and turned the lessons learned into a core aspect of their strategy.
TymeGlobal is a multi-country digital banking group focused on emerging markets. They are driven by the conviction that financial technology broadens economic participation to unlock human potential.
TymeBank, a part of TymeGlobal, is a digital bank that offers cost-effective digital banking services aimed at the mass market in South Africa as an alternative to legacy banks which have tended to serve more affluent customers.