Short answers, simple words. This page is not legal advice.
One minute to read.
Money in your wallet stays your money. Every day it is moved into float accounts held under a licensed payment provider (a TPPP). We do not use it to run TapAPI. It is yours until you spend it or send it to your bank.
For every rand in every wallet, one real rand is kept safe. We do not lend your money out. We do not invest it.
Every payment is written in a record that cannot be changed. Your statement is your proof.
We keep as little as we can. The law (POPIA) protects the rest.
Your SA Smart ID is just your key. The phone only reads its number. We never write anything onto your SA Smart ID card. Your money is not on the card — if the card is lost, your money is safe with us.
To open a wallet, you scan your ID once. Our payment partners and the law need us to know who you are. We keep your name, ID number, cell number and the photo on your ID — and use them only to keep your wallet safe and give your money back if you lose your card. The photo is never shown to a shop. We never sell your details. We never share them with advertisers.
You may ask to see, fix, or delete your details any time: io@tapapi.co.za. Some records must stay for a while — the money laws say so, for every payment company.
We say only what is true today.
Your TapAPI money works at TapAPI vendors. That is called a closed loop. The Reserve Bank has a new rule made for systems like this.
We will register under its new rule for closed-loop systems. The full detail is in our regulatory position paper.
TapAPI is not a bank. Your wallet is not a bank account. The Reserve Bank and Home Affairs do not endorse us. When our registration is done, we will say so here — not before.
Why we check IDs, and why limits help you.
Every vendor has their ID checked before they can sell. No ghost shops. You can start a wallet with just your cell number, and scan your ID — on tapapi.co.za or at a vendor — to raise your limits. Then your tag or card and your PIN are all you need.
Nobody may ever ask for your PIN. Not the shop. Not an agent. Not TapAPI. Only you type it, when you pay. Checking your balance is always free.
Your wallet has daily limits. If your SA Smart ID card or tag is lost, the limits keep your money safe while you block it in your wallet or at any vendor. Your money stays yours and moves to your new SA Smart ID card or tag.
The full documents, in plain words.
Who can hold a wallet, what you may and may not do with it, and how disputes are handled.
Exactly what we collect, why, how long we keep it, and how to exercise your POPIA rights.
Free to hold a wallet, and a tap is free for both sides. Loading money and sending it to a bank carry a small fee, always shown before you pay. A shop pays R95 once and R25.25 for each day its till is used. Any change comes with 30 days' notice.