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Tymebank targets entry-level market with lower fees

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Its focus on the entry-level market pits Tymebank directly against Capitec

Tymebank says it has reached a “comfortable” footfall of five new customers a day in about 500 of its live kiosks in Pick n Pay and Boxer Stores across the country.

“We know that we need scale. We need to on-board as many customers as soon as possible and ensure they transact as much as possible,” said Tymebank’s deputy CEO, Tauriq Keraan. “There’s a big job to be done in the underserved communities at the entry level of banking. We also believe there’s a bigger opportunity in this country to engage SMEs in a much more effective way,” said Tymebank CEO Sandile Shabalala.

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