Instant EFT

Instant EFT
ABSA  FNB  Nedbank  Standard Bank

Instant EFT is PayFast's patented, revolutionary method of EFT mediation which enables a buyer to pay via EFT but without the hassle of a 2 day waiting period or faxing proof of payment.

Unlike other systems, no special software is required to use Instant EFT and our system works across all browsers.

Benefits

  • No manual reconciliation or missing payments
  • No chargebacks
  • Instant confirmation of funds received
  • No delay in fulfillment process
  • Buyer doesn't need special software
  • Browser-indepedant

How it works

  1. The buyer selects items to buy on your site, and clicks Checkout when they are ready to pay.
  2. They select PayFast (or Instant EFT) as their payment option and are redirected to PayFast.
  3. They either register or login to PayFast and select Instant EFT as their payment option.
  4. PayFast prompts the user to pay the appropriate amount via EFT from Internet Banking.
  5. The buyer opens a new browser window and logs into your Internet Banking and pays the appropriate amount to the "PayFast" beneficiary/recipient (details will be provided).
  6. After successful payment, the buyer logs off Internet Banking, returns to the PayFast payment window and clicks Verify Payment.
  7. PayFast verifies that the payment has been received, completes the transaction and then returns the buyer to your site.
  8. You are notified of payment via email (optional) or your eCommerce site is automatically updated via ITN.

Frequently Asked Questions

Which banks are supported?

Currently we support payments from ABSA, FNB, Nedbank and Standard Bank.

Does the buyer need to install any special software?

No, unlike other systems, the buyer does not need to install any special software and our solution works across all browsers.