Payment Methods

Instant EFT

Instant EFT by PayFast allows online shoppers with access to internet banking to make an Electronic Funds Transfer (EFT) that gets instantly verified.

Scale your business with PayFast’s fastest growing payment method

An EFT is the second most popular online payment method in South Africa after credit and cheque cards. Activate Instant EFT as a payment option in your PayFast account and give customers the choice to create a payment automatically on our system.

Supported banks:

FNB

ABSA

STANDARD BANK

NEDBANK

CAPITECT

INVESTEC

TYMEBANK

AFRICAN BANK

BIDVEST

How Instant EFT works

  1. The buyer selects their bank and logs in using their online banking credentials.
  2. Next they choose from which account they will be making the payment.
  3. Buyers then verify the payment with their bank on their mobile device.
  4. The payment is processed and instantly reflects in your PayFast account.

Benefits of Instant EFT

  • Clears immediately; no two day wait
  • Support payments made via FNB, ABSA, Standard Bank, Nedbank, Capitec Bank and Investec
  • No delays during checkout
  • Only pay a small all-in-one transaction fee when you make a sale
  • Quickly action refunds via the PayFast dashboard

Simple, transparent pricing

No setup, monthly or hidden fees. Fees are negotiable based on online sales volumes.