TymeBank wants to have a loan book that is worth about R2-billion by 2022, which represents nearly 1% of SA’s total unsecured lending market worth R225-billion in 2018, ...

TymeBank’s low-cost model targets lower-income consumers. Unsecured lending is not backed by any collateral, making it riskier than loans backed up by an asset such as mortgages.

TymePOS. TymeBank’s business customers stand to benefit from the launch of a new offering, TymePOS, a mobile point-of-sale app that turns an NFC-enabled cellphone into a tap-and-go payment device.

But by 2022 TymeBank wants to have a loan book worth about R2-billion on the strength of a range of credit products, which represents less than 1% of SA’s total lending market.

South African digital bank TymeBank says it is set to reach the 6 million customer mark in December, as the group completes its acquisition of business lender and fintech group, Retail Capital.

South Africa's TymeBank is considering ditching an expansion into unsecured loans due to the coronavirus crisis, its owner African Rainbow Capital Investments (ARC) said on Friday.