Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems and without the direct intervention of bank staff.
Instant or automated EFT is a streamlined version of a traditional EFT. It makes payment of a bank transfer a lot faster and easier by eliminating certain steps such as reference number and amount entry. The payment method only requests from buyers, those values which are not known to them such as account number and one time pins.
Our Thawte Certificate enables I Pay to offer the utmost levels of security to Merchants and Buyers alike. Through I Pay, online payment processing is safe and secure. Confidence and trust between Merchants and Buyers are built and secured, based on one of the most consistent network infrastructures available.
"Trusted and Verified sites will present a green notification flag in the address bar, so Buyers will never have to be concerned as to whether the information can be accessed or viewed"
As A Merchant:
There are no monthly subscription fees. i-Pay charges a percentage fee of only the successful transactions that have gone through our gateway.
As A Consumer:
With i-Pay you can make payments easily and securely without paying a cent. All you need is to be registered for internet banking with your bank. Just use your internet banking details to logon through our i-Pay Platform. In certain cases, there can be a cost based on your banking package. EG: Transacting from a savings accounts usually have a “withdrawal/transaction” fee
As A Merchant:
Any business needing to receive payments from customers quicker and securely. Just integrate i-Pay into your online store as one of the payment options.
As A Consumer:
Anyone that buys from any of the online stores that use i-pay as payment option.
Currently we can process Instant EFT when shoppers have accounts with South Africa’s six major banks in South Africa: ABSA, FNB, Nedbank, Standard Bank, Capitec and Investec.
You have a lot of advantages. In particular, you can expect:
When making use of the i-Pay service, the communication between you and your bank occurs as it normally would therefore the security of your bank’s internet banking is inherited.
No. With i-Pay you can make payments easily and securely without registering. All you need is an online banking account with confidential login details and confirmation code procedure.
(be registered for internet banking with your bank. Just use your internet banking details to logon through our i-pay Platform)
Through our secure online payments service, Buyers are able to keep all personal and financial information and data private, both from I Pay and the Merchant, thereby significantly lowering the opportunity for Identity theft and fraud to occur online
I Pay or the Merchant do not access the sensitive and confidential information of Buyers, their personal data remains entirely safe and private.
Yes. You can use i-Pay to pay on all three channels.
I-Pay's instant EFT payment solutions provides a multitude of benefits for both the Buyer and Merchant. I-Pay is accessible through all web enabled devices, be it desktop or mobile. Payments can be made via Mobile, eCommerce, eBilling or QR Code.Merchant Benefits
You can pay using you credit account. Your credit card is a physical representation/key that links to your credit account. Because i-Pay access all your accounts available on your internet banking profile, we bypass the need for a physical card and access you credit account directly.