Table of Contents
Patrice Motsepe's digital lender is trading in grocery store kiosks for dedicated mall hubs, a pivot that marks a clean break from the distribution model that built the bank in the first place.
GoTyme Bank, the South African digital lender formerly known as TymeBank and backed by Motsepe's African Rainbow Capital Investments, confirmed it will pull all kiosks from Pick n Pay stores by March 31. The move ends what had been one of the more visible retail banking partnerships in the country since the bank launched in 2019.
In those early days, kiosks inside Pick n Pay were the whole playbook. They gave the bank a cheap, high-traffic way to onboard customers who had never held a formal bank account. The bet paid off. GoTyme now serves 12 million customers across South Africa and more than 15 million globally, including its Philippines operations, GoTyme Bank PH.
But customer behavior moved on, and Motsepe's bank is moving with it.
"The footprint we needed when we launched seven years ago is not the same footprint we need today," said Nolwazi Nzama, GoTyme's executive for customer experience and operations. "Our customers are banking more digitally and engaging in different retail spaces."
Pontsho Ramontsha, the bank's head of corporate communications, framed the decision as data-driven rather than cost-cutting. The bank, she said, continuously reviews where and how customers actually interact with it. Pick n Pay kiosks no longer reflect where that traffic is.
Starting this month, GoTyme is rolling out dedicated Consumer Hubs in shopping malls across South Africa. The hubs go further than kiosks did. They offer on-site debit card issuance, personalized assistance, and full account support, modeled on how the bank operates in the Philippines, where kiosk-based ambassadors walk customers through complex processes in person.
Kiosks inside The Foschini Group and Boxer stores stay in place. Pick n Pay itself is not entirely gone either. The retailer remains a cash-in and cash-out partner, meaning customers can still deposit and withdraw at tills nationwide. What ends is the in-store kiosk and the double Smart Shopper points benefit, both expiring March 31. A new standalone rewards program is expected in the second half of 2026.
The restructuring arrives months after Motsepe's lender rebranded from TymeBank to GoTyme Bank in February 2026, aligning its South African identity with its global operations. African Rainbow Capital Investments holds a 40 percent stake in the parent Tyme Group, which raised $250 million in late 2024 at a $1.5 billion valuation. The group is targeting a public listing by 2028.
