Instant EFT

No credit card? No problem. Instant EFT allows online shoppers with access to internet banking to make an internet banking transfer (EFT) that gets instantly verified. There is no two day wait, you don’t need to send in proof of payments and it can be used with six of South Africa’s biggest banks.

6 South African banks supported

  • FNB
  • ABSA
  • Standard Bank
  • Nedbank
  • Capitec Bank
  • Investec

More flexibility to access more buyers

With PayFast’s Instant EFT, customers have the most flexibility since they can choose whether to create a payment automatically or load the payment themselves through their preferred banking portal (only available for FNB, ABSA, Standard Bank and Nedbank).┬áMore payment options means access to more shoppers and increased sales.

Benefits

  • Clears immediately; no two day wait
  • No proof of payment required
  • No delays during checkout
  • Works on all browsers and most smart mobile devices
  • More payment options for greater flexibility

Did you know?

Instant EFT is the second most popular online payment method in South Africa after credit and cheque cards. Don’t miss out on potential sales and make sure you have enabled Instant EFT on your PayFast dashboard or sign up for your free PayFast account now.

How it works – Automatic EFT

How it works – Customer loaded EFT

Create Account Contact Sales

FAQ

What is Instant EFT?

It is an electronic funds transfer (EFT), a transfer from a shopper’s bank account to ours, that instantly gets confirmed. The funds are paid to the seller’s bank account upon request of Payout.

What banks are supported?

Currently we can process Instant EFT when shoppers have accounts with South Africa’s six major banks: ABSA, Capitec Bank, FNB, Investec, Nedbank and Standard Bank.

Does the shopper need any special software?

No. Unlike other systems, the buyer doesn’t need to install any special software. Transactions can be made on PCs, Macs and most mobile devices (such as Blackberry, iPhone, iPad, Android etc.)

Does the shopper need to send proof of payment to verify the transfer?

No. Neither the shopper, nor the merchant would need to confirm the transfer. PayFast’s system confirms that the actual amount has been transferred, so there’s no need for calls, faxes or emails.