As a merchant, every year brings with it new opportunities and ways to bring more customers to your e-commerce door, as well as level up your current customer experience.
One such way is Instant EFT.
What Is An Instant EFT?
As the South African government puts it, “An instant EFT is a payment method offered by a third party, in partnership with e-commerce stores.”
It automates the initiation of payments from consumers to e-commerce stores and provides immediate confirmation of payment to the e-commerce store. This enables the store to dispatch the goods or services purchased.
How EFT Works Step By Step
The process of an Instant EFT payment is as follows:
When an online shopper is ready to complete the purchase on your online store they will go to the checkout page. Your customer will then add all their delivery details and select to make a payment. After this, they’ll be redirected to the secure PayFast payment page where they can select Instant EFT to pay.
They then select their bank and login using their online banking credentials. Next, they choose from which account they will be making the payment. They will then be prompted to verify the payment with their bank on their mobile device.
PayFast instantly processes the payment and notifies both you and your customer that it has been completed successfully, allowing you to process their order.
As A Merchant, You Need Instant EFT And Here’s Why
If you’re a merchant and answer ‘yes’ to any of the following questions, then you need instant EFT.
- Are you tired of the hassle of card payments?
- Are you tired of payments with cash?
- Do you need the assurance of payment without having to wait and wait for the funds to eventually clear?
- Do you need a seamless payment?
- Do you need a payment system that creates ease and simplicity for your customers?
- Are you looking for a quicker, more convenient way for online shoppers to check out of your e-commerce store using their funds from their savings account, credit or cheque account?
- Are you looking for a way to charge less to your clients when they make a payment?
- Are you looking for a safe way for your customers to pay?
Instant EFT is the one way to get all of the above, easily.
Are you looking to provide benefits for customers from 9 different banks?
Instant EFT by PayFast supports nine different South African banks. Consequently, if your customers bank with FNB, Absa, Standard Bank, Nedbank, Capitec, Investec, TymeBank, African Bank or Bidvest then they can use Instant EFT to pay you online.
PayFast interfaces with these banks’ online payment facilities to easily process EFT payments. Thereby, this allows online shoppers with access to internet banking to make an EFT that gets instantly verified.
Level up your business and its customer experience with instant EFT today!
One of the many benefits of using PayFast as your online payment gateway is that we offer a variety of payment methods to suit your customers’ preferences.
While credit cards are currently still the most popular payment method for shopping online, Instant EFT is our fastest growing payment method, and with good reason.
Sign up for Payflex now!
If you’re looking for the best payment gateway for eCommerce, you need to consider Payflex. Not only does it offer your customers a revolutionary way to pay that can increase your profits, but it’s also safe, secure and easy to use.