Callpay has announced the addition of Tyme Bank, Bidvest Bank, Old Mutual Money Account and African Bank to EFTsecure – the first instant EFT solution in South Africa to add these four banks on checkout.

EFTsecure opens the eCommerce market to users who do not have a credit card, with the most advanced EFT payment solution to date. The instant EFT switch for eCommerce merchants, EFTsecure provides the opportunity to accept payments from all banking account types enabling customers the convenient use of their cheque, savings and credit card accounts on checkout, creating a faster and more secure online shopping experience.

“EFTsecure opens the online shopping market to millions of South Africans as all banking cards aren’t eCommerce enabled” comments Head of Partnerships of Callpay, Thomas van der Spuy.

“This means more consumers can now shop online and use their online banking profiles with a secure checkout page. Completing a payment takes seconds, with an easy step-by-step process.”

Arising from the need for simple and cost-effective solutions to accepting online payments, EFTsecure reduces the risk of chargebacks and fraud enabling merchants to dispatch services on a successful payment notification. This innovative solution fully supports refunds, providing real-time or daily settlement options.

“By adding Tyme Bank, Bidvest bank, Old Mutual Money Account and African Bank, we believe another segment of the market will now be able to utilize eCommerce and online shopping – and at the same time, we are giving online merchants a bigger service offering to their own clients” concludes van der Spuy.

Security is a vital component to EFTsecure and Callpay boasts the very best says Devonne Burger, Chief Technology Officer at Callpay:

“Callpay became the first PSP globally to achieve Level 1 PCI-DSS v3 compliance and the first PSP in Africa to achieve Level 1 Payment Card Industry Data Security Standards v3.1 compliant Service Provider status. We are regularly evaluated by Pen Testers and vigorously audited by QSA’s against Mastercard and VISA regulations. As EFTsecure is a product forming part of Callpay’s Omni-Payment-Channel, EFTsecure carries the same level of digital security”.

Existing EFTsecure merchants already have these 4 banks added to their profile and can simply activate them – no need for any additional integration.

About Callpay

Winner of the ‘Best Emerging Payments Company in South Africa’ in 2016, Callpay is the ultimate payment solutions partner. From built-in-fail-over, transaction monitoring to multi-tokenization, the team of software engineers provide Enterprise merchants with unique unmatched payments platform. Callpay combines clever innovation, ease of use and automation to scale to take care of digital payment needs and PCI-DSS certification. Your Digital Payment Partner.

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Source: https://paymentsafrika.com/payment-news/online-payments/eftsecure-lists-banking-heavyweights-to-expand-the-world-of-online-shopping/