South African digital lender GoTyme Bank, backed by billionaire investor Patrice Motsepe, has announced plans to withdraw its in-store kiosks from Pick n Pay outlets, marking a significant shift in its customer engagement strategy.
The bank confirmed that all kiosks located in Pick n Pay stores will be phased out by March 31, bringing an end to a retail partnership that has been central to its expansion since its launch in 2019. Initially, the kiosks provided a cost-effective and high-traffic channel for onboarding customers, particularly those without access to formal banking services.
Over the years, that approach helped the lender scale rapidly. GoTyme Bank now serves more than 12 million customers in South Africa and over 15 million globally, including its operations in the Philippines.
However, changing customer behavior has prompted a strategic pivot. According to company executives, increasing adoption of digital banking and evolving retail engagement patterns have reduced the relevance of grocery store kiosks.
As part of the transition, the bank is rolling out dedicated Consumer Hubs in shopping malls across the country. These hubs are designed to offer more comprehensive services, including instant debit card issuance, personalized assistance, and full account support, reflecting a more immersive customer experience model.
Despite the exit from Pick n Pay kiosks, the retailer will remain a transactional partner, allowing customers to continue making deposits and withdrawals at its stores. However, in-store kiosk services and associated loyalty perks, such as Smart Shopper rewards, will be discontinued. A new standalone rewards program is expected to launch later in 2026.
The restructuring follows the bank’s recent rebranding from TymeBank to GoTyme Bank in February 2026, aligning its South African identity with its international operations. The lender is backed by African Rainbow Capital Investments, which holds a significant stake in its parent company, Tyme Group. The group previously raised $250 million at a $1.5 billion valuation and is targeting a public listing by 2028.
