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.
