Investec Ltd., a well-known lender in South Africa that caters to high-net-worth individuals, is planning to enhance its business banking unit by introducing a payments system aimed at facilitating low-value, high-volume transactions for corporate clients.

This move reflects Investec's strategic focus on expanding its offerings in the corporate payments sector to meet the growing demand for efficient payment solutions among businesses.

Kuben Naidoo, who has recently joined Investec after holding key positions at the South African Reserve Bank, including deputy governor and head of the banking regulator, is leading this initiative.

The bank will utilize PayShap, South Africa's recently established real-time rapid payments platform for low-value transactions, to develop this innovative banking solution.