Electrum

Electrum is a cloud-native platform for processing instant P2P and A2A payments (PayShap, RTC, EFT) and digital vouchers for banks and retail. The company is based in Cape Town, South Africa, and was founded in 2012.

Products The set includes a Real-time A2A and P2P Switch, an ISO 20022 Hub, Bill Payments and Digital Vouchers, and a Recon Engine. The company states that it provides cloud processing of instant payments for the largest banks and networks in South Africa.

Clients and markets Target customers are banks, national retailers, telecoms and PSPs. Stated geography is South Africa, the rest of Africa and Europe.

Commercial terms Electrum is offered as an enterprise cloud PaaS. Pricing is not published and depends on transaction volumes and the services connected.

Who it suits Banks and large retailers in South Africa that need to connect to local real-time payment schemes, and operators that want vouchers, bill payments and reconciliation on the same platform. ISO 20022 support is relevant for institutions preparing for message-standard migration.