TymeBank
TymeBank (rebranding to GoTyme Bank) is a South African digital bank offering free current accounts, savings, loans, BNPL, and Apple Pay to over 15 million retail and small-merchant customers across South Africa and the Philippines via a hybrid mobile-app, USSD, and retail-kiosk model.
- Company typePrivate
- Founded2019
- HeadquartersJohannesburg, South Africa
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What TymeBank does
TymeBank, now rebranding to GoTyme Bank, is a South African digital bank headquartered in Johannesburg (with a Cape Town office) that serves retail consumers and small merchants through a hybrid model combining a mobile app and USSD feature-phone banking with physical kiosks inside retail stores. The bank holds Financial Services Provider (FSP 49140) and credit-provider (NCRCP 10774) registrations and is supervised by the South African Reserve Bank's Prudential Authority, with deposits insured up to R100,000 per depositor. The product set is anchored on a free Current Account and extends through GoalSave savings, Fixed Deposits, Personal Loans, GrantAdvance (advance on SASSA grant payments), MoreTyme buy-now-pay-later, virtual cards, Apple Pay, USSD, DebiCheck authenticated debit orders, Tills cash-in/out, and Send Money Vouchers. Kiosks also enable Department of Home Affairs smart-ID and passport services, providing a government-service anchor for footfall. Strategic partners include Nubank (lead Series D investor), Sanlam (co-branded fintech super app), and Kazang (merchant working-capital advances via POS data). The bank serves over 15 million customers across South Africa and the Philippines, with stated expansion plans into Vietnam and Indonesia and a targeted NYSE/JSE dual listing by 2028.
TymeBank firmographics
Firmographics- Name
- TymeBank
- Legal name
- GoTyme Bank Limited
- Website
- https://tymebank.co.za
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- TymeBank (rebranding to GoTyme Bank) is a South African digital bank offering free current accounts, savings, loans, BNPL, and Apple Pay to over 15 million retail and small-merchant customers across South Africa and the Philippines via a hybrid mobile-app, USSD, and retail-kiosk model.
- Ownership category
- akta.pro rank
TymeBank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Underbanked/Financial Inclusion Neobanks (FSABAFAJ)
- akta.pro secondary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
Keywords
Where TymeBank is headquartered
LocationHeadquarters
- HQ city
- Johannesburg
- HQ country
- South Africa
- HQ region
- Africa
Offices2 records
Markets served
TymeBank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Transaction and Banking Fees: Core banking revenue from transaction fees, account maintenance, and card-related services from retail and business customers.
- Lending Products: Interest income from credit products including personal loans and GrantAdvance (salary advance).
- Savings and Investment Products: GoalSave savings accounts and Fixed Deposit products generate fee income and spread income.
- Merchant Services: Working capital advances to merchants through Kazang POS partnership, generating interest income.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free banking with no monthly fees |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
TymeBank product offering
Product offeringCore offering
TymeBank (rebranding to GoTyme Bank) is a South African digital bank offering free current accounts, savings products (GoalSave, Fixed Deposit), credit (Personal Loans, GrantAdvance, MoreTyme BNPL), and instant payment services delivered through a mobile app complemented by physical kiosks in retail stores and Customer Hubs for in-person support. The bank targets unbanked and underbanked consumers across South Africa and the Philippines, with plans to expand into Vietnam and Indonesia.
Product overview
GoTyme Bank (formerly TymeBank) is a South African digital bank operating on a hybrid model that combines digital banking services with physical kiosks located in retail stores. The product portfolio centers on a Current Account as the primary transactional product, supplemented by savings and investment offerings (GoalSave, Fixed Deposit), payment services (Instant Payments, Send Money Vouchers, DebiCheck, USSD), digital wallets (Virtual Card, Apple Pay), and credit products (Personal Loans, GrantAdvance, MoreTyme BNPL). The bank serves over 15 million customers across South Africa, Philippines, and Vietnam, positioning itself as a global digital bank born in Africa.
Differentiator
Problem solved
Functional benefit
Brands
- GoTyme Bank: Digital banking platform offering current accounts, savings, loans, and payment services
- GoalSave
- Fixed Deposit
- GoTyme Instant Payments
- MoreTyme
- GrantAdvance
- Personal Loans
- VAS
Products and services
- Current Account
- GoalSave
- Fixed Deposit
- Personal Loans
- GrantAdvance Advance on South African government grant payments providing early access to funds for grant recipients.
- MoreTyme Buy Now Pay Later service enabling customers to split purchases into installment payments.
- GoTyme Instant Payments Real-time payment service enabling customers to transfer money instantly between accounts.
- Apple Pay Mobile payment integration allowing customers to use their GoTyme Bank card on iPhone, Apple Watch, Mac, iPad, and Apple Vision Pro for contactless NFC payments.
Quantifiable outcome
- Africa's first digital bank to achieve profitability (December 2023)
- +2 more outcomes
Companies that use TymeBank
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
TymeBank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
TymeBank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and flagship.
- Kazang (Lesaka Technologies)coreKazang partnered with TymeBank to provide working capital advances to licensed taverns and liquor outlets in South Africa. The fintech solution uses digital transaction data from Kazang POS devices to assess merchant affordability and disburses funds within 24 hours.
- SanlamflagshipSanlam partnered with TymeBank to build South Africa's first co-branded fintech super app that consolidates various financial services into a single digital platform. The collaboration aims to enhance financial inclusivity and digital innovation by merging TymeBank's digital expertise with Sanlam's financial experience.
Scale indicators7 records
Recent moves9 records
Expansion highlights6 records
TymeBank competitors and assessment
Company assessmentDirect peers
- Nubank: Nubank is Latin America's largest digital bank and led TymeBank's $250M Series D round. Both target underbanked consumers with mobile-first free banking, low-fee accounts, and credit products in emerging markets, making Nubank the most directly comparable strategic and operational peer.
- Capitec Bank: Capitec is South Africa's largest retail bank by customer count and pioneered the low-fee, mass-market banking model that TymeBank directly mimics. Both serve working-class South African consumers with simplified, affordable banking products via high-footprint physical plus digital channels.
- Discovery Bank: Discovery Bank is a South African digital-first bank bundled with Vitality health/insurance rewards. Comparable to TymeBank's Sanlam super-app strategy, both compete for digitally-engaged South African consumers seeking non-traditional banking value propositions.
- GCash (Mynt/Globe Fintech Innovations): GCash is the Philippines' leading e-wallet and digital financial services platform and a direct competitor within TymeBank's GoTyme Philippines operations. Both target unbanked Filipino consumers with mobile-first payments, savings, and credit offerings.
Broad incumbents
- First National Bank (FNB): FNB is one of South Africa's 'Big Four' banks and a leading digital innovator with its app and eBucks rewards ecosystem. As a broad incumbent with overlapping digital retail banking capabilities, it represents the primary competitive threat to TymeBank in the domestic market.
- Standard Bank: Standard Bank is Africa's largest bank by assets with an extensive digital platform serving retail and SME customers. It competes head-on with TymeBank in South African retail deposits and increasingly in digital onboarding and lending products.
- Absa Bank South Africa: Absa is a major South African retail and commercial bank with growing digital capabilities. It operates in the same deposit, payments, and personal lending categories where TymeBank competes and is investing in digital offerings to defend share.
- M-Pesa (Vodacom / Safaricom): M-Pesa is the dominant mobile money platform across Africa and a competing model for serving unbanked populations. While M-Pesa is primarily a wallet/agent network rather than a fully licensed bank, it defines the financial-inclusion segment in which TymeBank operates across South and East Africa.
Emerging players
- Kuda Bank: Kuda is a Nigerian digital-first neobank serving underbanked consumers with free banking, savings, and credit. It is directly comparable to TymeBank on the Africa financial-inclusion neobank thesis, though at smaller scale and earlier stage.
- Carbon (formerly Paylater): Carbon is a Nigerian digital lending and consumer finance platform with operations in expansion markets. It overlaps with TymeBank's emerging-market digital lending, BNPL, and small-merchant working-capital offerings, particularly the GrantAdvance and MoreTyme credit features.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
TymeBank social profiles
Digital presenceTymeBank compliance and trust
Trust signalCompliance3 records
TymeBank financial estimates
Financial estimateRevenue estimate
Valuation estimate
TymeBank leadership team
Management profileNumber of profiles
Profiles5 records
TymeBank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TymeBank M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TymeBank
What does TymeBank do?
TymeBank (rebranding to GoTyme Bank) is a South African digital bank offering free current accounts, savings products (GoalSave, Fixed Deposit), credit (Personal Loans, GrantAdvance, MoreTyme BNPL), and instant payment services delivered through a mobile app complemented by physical kiosks in retail stores and Customer Hubs for in-person support. The bank targets unbanked and underbanked consumers across South Africa and the Philippines, with plans to expand into Vietnam and Indonesia.
Is TymeBank a public or private company?
TymeBank is a private company. It is classified as venture growth investor backed and is currently operating.
When was TymeBank founded?
TymeBank was founded in 2019. It employs 1,001 to 5,000 people.
Where is TymeBank based?
TymeBank is headquartered in Johannesburg, South Africa, in the Africa region.
How does TymeBank make money?
Four revenue lines are on record. Transaction and Banking Fees are the primary driver. The others are lending Products, savings and Investment Products and merchant Services.
Who are TymeBank's main competitors?
Direct peers on record are Nubank, Capitec Bank, Discovery Bank and GCash (Mynt/Globe Fintech Innovations). Broad incumbents are First National Bank (FNB), Standard Bank, Absa Bank South Africa and M-Pesa (Vodacom / Safaricom). Emerging players are Kuda Bank and Carbon (formerly Paylater).
Does TymeBank have an API?
No public API is recorded for TymeBank.
What industry is TymeBank in?
TymeBank's product category is Retail Banking. Its primary akta.pro industry code is FSABAFAJ, Underbanked/Financial Inclusion Neobanks, with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.