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.

Rapid Instant 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 creating a beneficiary, enter reference number and amount or provide a proof of payment. Rapid Instant EFT only requires a buyer to login to their bank account and authenticate the payment through the banks one time pin.

Select Rapid Instant EFT as your payment option during checkout

Select your bank from the list presented

Login to the Rapid Instant EFT portal using your internet banking credentials

Select your account to pay from

The automated process will navigate and populate the relevant fields on your behalf in the background

Your bank will require you to authorize the payment by means of SMS, USSD Push or In-App approval

Once you have successfully authorised the transaction to your bank, the payment will be done to the Seller

Rapid Instant EFT sends an instant notification to the seller on the outcome of the transaction and in turn, the seller will process your order immediately. There is no need to send through a proof of payment and no need to wait for the funds to reflect in the seller’s bank account.

As A Merchant: 
Rapid Instant EFT charges a small fee on every successful payment processed through our Gateway. This is dependent on your monthly Total Processing Volume (TPV).

As A Consumer:
With Rapid Instant EFT 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 Rapid Instant EFT 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 that needs to receive payments from customers quick and securely. Just integrate Rapid Instant EFT into your online store as one of the payment options. Your customers will be able to pay using their cheque, savings or credit card accounts.

As A Consumer:
Anyone that buys from any of the online stores that use Rapid Instant EFT as payment option.

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

You have a lot of advantages. In particular, you can expect:

• faster delivery of the goods you order online, because the merchant receives instant confirmation of the transaction immediately after you set up the transfer order, so he can dispatch merchandise very quickly.
• with Rapid Instant EFT you don’t need to register.
• you don’t require a credit card,
• learn new passwords, or go to the effort of keeping a virtual bank account, such as a wallet.
• thanks to the two-factor authentication procedure (with confidential login details and confirmation code) using Rapid Instant EFT is more secure than paying with a credit card or eWallet.
• no need to type in information a second time, which is potentially a source of error.
• No need to provide proof of payment.
• all payment information that the bank requires for the transfer is already there (populated for you). That’s what makes this payment method so convenient.

When making use of the Rapid Instant EFT service, the communication between you and your bank occurs as it normally would therefore the security of your bank’s internet banking is inherited.

• Rapid Instant EFT guarantees the highest levels of security when paying online
• Rapid Instant EFT has a Comodo SSL encryption certificate which gives our payment processing service an extremely high level of security
• This ensures that all messages travelling between your browser and Rapid Instant EFT are encrypted
• Rapid Instant EFT acts as a proxy between the buyer and the bank to facilitate a faster, safer and easier payment process for both the buyer and the seller
• Your online banking login details are NOT stored by Rapid Instant EFT
• Rapid Instant EFT is a Level 1 PCI-DSS v3.2 compliant solutions and independently audited.

No. With Rapid Instant EFT 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 Rapid Instant EFT Platform)

Through our secure online payments service, Buyers are able to keep all personal and financial information and data private, both from Rapid Instant EFT and the Merchant, thereby significantly lowering the opportunity for Identity theft and fraud to occur online.

Rapid Instant EFT or the Merchant do not access the sensitive and confidential information of Buyers, their personal data remains entirely safe and private. Consumer Protection Program. Our free protection programme for Buyers, guarantees that unauthorised real-time payments from the Consumer’s account of up to R100 000.00 made through the Rapid Instant EFT payment gateway, will be reimbursed.

Yes. You can use Rapid Instant EFT to pay on all three channels.

Rapid Instant EFT’s instant EFT payment solutions provides a multitude of benefits for both the Buyer and Merchant. Rapid Instant EFT is accessible through all web enabled devices, be it desktop or mobile. Payments can be made via Mobile, eCommerce, or eBilling.

Merchant Benefits

• Instant payment notifications across 6 major South African bank’s
• Real-time payment notifications
• Customers can pay online using their cheque, savings or credit cards accounts.
• Low transaction fee
• No Credit Card chargebacks, Reverse Transactions or Fraud
• Increased revenue
• Full refund capabilities
• Real time, daily or weekly batched settlement options
• Reduction of shopping cart abandonment
• Payments transacted over multiple web enabled devices
• Free Business Protection Programme
• Monthly report’s extractable from dashboard for monthly reconciliation’s
• Removal of human error
• Faster and easier bank reconciliation

Buyer benefits:

• A swift, simple, secure 3-step payment process
• Payments can be made from any bank account linked to your internet banking profile. This includes your credit account facility. It’s like using your credit card, but you do not need to enter the card number expiry date and cvv.
• No registration required when making a payment via Rapid Instant EFT
• No application download required
• All personal data remains private and is not stored
• Comodo SLL Certificate Security Standards
• Consumer Protection Programme up to R100 000.00
• Real-time payment notifications and OTP requests
• There is no need to send a Proof Of Payment(POP) after a payment is done
• There is no need to memorise the payee’s account number, branch code and reference number

You can pay using you credit account. Your credit card is a physical representation/key that links to your credit account. Because Rapid Instant EFT access all your accounts available on your internet banking profile, we bypass the need for a physical card and access you credit account directly.