Nedbank, iKhokha introduce South Africa's first twice-daily settlement for merchants. * Updated on October 5, 2026 Reading Time: 3 minutes * home / * articles / * grow / * Nedbank, iKhokha introduce South Africa's first twice-daily settlement for merchants. Nedbank and iKhokha have launched a new twice-daily settlement service that enables eligible iKhokha merchants with Nedbank business accounts to receive two payouts a day, including Sundays and public holidays. This enhancement gives merchants faster access to money from card transactions, helping them manage cash flow more effectively and respond to business needs sooner. What are merchant settlements? The term "settlement" refers to the stage in the purchasing process when the funds are confirmed and transferred into the merchant's account. Once the settlement occurs, they are available for use. This is true regardless of whether the transaction is a merchant-customer or B2B relationship. Oftentimes, settlements occur at intervals, with cash flow being settled on the merchant side once every ten days or even up to once a month. Real-time settlements (also referred to as real-time payments) eliminate this gap, with the fund transfer being completed in real time. How does it work? Under the new model, merchants will receive the first settlement in the early morning and the second in the afternoon. Money from morning and afternoon sales is batched and processed separately, allowing merchants to access a portion of their revenue before the close of business. For many businesses, particularly those operating in fast-moving sectors such as retail, hospitality and services, quicker access to earned revenue can make a meaningful difference. Twice-daily settlement enables merchants to replenish stock sooner, meet supplier obligations more efficiently and manage day-to-day operations with greater confidence. "Small businesses need quick access to the money they earn. By introducing twice-daily settlement, we are helping merchants improve cash flow management, respond faster to customer demand and operate with greater confidence. This innovation reflects our commitment to delivering payment solutions that help businesses grow," says Anthony Usmar, Executive: Payments at Nedbank. Nedbank and iKhokha's partnership. The new capability is the result of close collaboration between Nedbank and iKhokha. Last year, Nedbank completed a 100% acquisition of iKhokha in an all-cash deal for approximately R1,65bn. The acquisition was a strategic move by Nedbank to bolster its digital offering and expand its presence in the small and medium-sized enterprise (SME) market. "At iKhokha, our focus is on helping entrepreneurs succeed. Twice-daily settlement gives merchants quicker access to working capital without requiring any change to how they operate, allowing them to make important business decisions sooner and with greater flexibility," says Matt Putman, co-founder of iKhokha. Key benefits for merchants. The new settlement model is available for eligible iKhokha merchants with Nedbank business accounts. Key benefits include: * Predictable cash flow: With two settlement windows at 04:00 and 15:00 each day, merchants will know when to expect their money. * Reduced reliance on credit: Increased access to their money will reduce the need for short-term borrowing and overdraft facilities. * Daily access to cash: Payouts happen seven days a week, 365 days a year, giving high-volume traders quick access to their money so they can stock up and trade over weekends and public holidays. * Business growth: Easy access to money increases sales opportunities and supports sustainable business growth. * Same-day access: Merchants who have Nedbank business accounts receive two payouts a day with no additional hardware, fees or setup required. How twice-daily settlements help smes. Twice-daily settlements give small businesses faster access to their sales revenue, turning cash flow into a continuous, active loop rather than a bottleneck. Other key benefits include: Improved cash flow. Faster access: Revenue from morning sales becomes usable capital by afternoon. Working capital: Eliminates multi-day waiting periods for card or digital transactions. Immediate liquidity: Funds are ready for daily operational needs. Reduced debt and fees. Fewer credit lines: Stops reliance on expensive short-term loans or overdrafts to cover gaps. Lower interest: Eliminates interest charges accumulated while waiting for standard payouts. Streamlines operations. Quick restocking: Cash is available same-day to reorder fast-moving inventory. On-time bills: Payroll, rent, and suppliers get paid without scrambling. Easier tracking: Splitting daily batches into two clear deposits simplifies daily reconciliation. "As businesses continue to navigate rising operating costs and increasing competitive pressures, access to money has become an important driver of agility and growth. Twice-daily settlement gives merchants greater control over their finances while maintaining the simplicity and convenience of their existing payment processes," concludes Nedbank. Meet Lungile Msomi, is the digital content specialist for SME South Africa with a Media Studies and Communication degree from the University of the Free State. With experience ranging from journalism to copywriting - and now steering the ship as Startup.Africa's editor - she transforms ideas into captivating stories. When she's not busy turning words into art, you'll find her vibing to music, exploring tech trends, or reading literally anything. Passionate about technology, music, fashion, and, of course, writing, Lungile adds a fun twist to every project

Nashua partners with ikhokha to expand its Total Workspace Solutions offering for SMEs. Nashua, a leading provider of Total Workspace Solutions, has partnered with iKhokha, one of South Africa's foremost fintech innovators, to add payment acceptance solutions, cash flow enablement solutions and digital financial tools to its comprehensive set of business solutions for small and medium enterprises (SMEs). This positions Nashua as an end-to-end partner to SMEs, enabling productivity from customer transactions to back-office operations, and represents the expansion of the company's Total Workspace Solutions to include a value-added fintech offering. The Nashua franchise network, which includes 42 franchises across South Africa, will distribute iKhokha's tools and solutions. Franchisees will transition to the iKhokha payments platform and provide support to SMEs in adopting the solution. "Nashua's goal is to provide SMEs with a complete set of tools that help them to improve efficiencies, enhance security and profitability to grow their businesses," says Barry Venter, CEO of Nashua. "The iKhokha value-added products and services are a valuable addition to our portfolio for businesses that are looking for practical solutions that enable cashless transactions." iKhokha's fintech solutions make payment acceptance and cashflow management simpler, secure and more affordable for SMEs and will be of relevance to Nashua's customers. The iKhokha solutions help SMEs to futureproof their business across three pillars: * Security: The iKhokha devices enable secure card transactions and significantly reduce the need to handle cash. * Profitability: The solution enables businesses to accept and process sales directly from the device, unlocking additional revenue opportunities. The iKhokha ecosystem offers a range of products, including payment links and accounting solutions, to support growth. Businesses can also earn additional income by selling digital vouchers such as prepaid airtime, data, electricity and gaming. * Efficiency: iKhokha ensures smoother transactions and better cash flow management. Businesses can access iK Cash Advance funding and manage e-commerce through iK Webstore from a single device. They can also track sales and monitor stock with an integrated point of sale solution. Matt Putman, CEO at iKhokha, says: "The partnership is a natural fit because Nashua and iKhokha are homegrown South African businesses that share a common purpose of helping SMEs to thrive. Partnering with Nashua allows us to reach even more entrepreneurs with accessible, innovative tools that help them to scale their businesses and increase their profitability."