Thinking of how you can do an online payment using a cheque , credit card or a savings account directly using a EFT platform, then look no further. A south African Fintech startup which goes by the name Peach Payments (an online payment processor focusing on Africa and other emerging markets) in collaboration with Callpay ( a telephony card based payments company) are to provide an automated Electronic Fund Transfers (EFT) as well as secure telephonic payment acceptance solutions to millions of South Africans.
The e-commerce market in various developing countries like India, South Africa, Kenya and Nigeria have been on a steady rise but soon it will be developing at an alarming rate and due to this factor Peach Payments saw an opportunity in the market to offer online merchants the best online payment solution coupled with a great product suite.
Announced at the 3rd eCommerce MoneyAfrica Conference, the new products will enable South Africans to make instant and secure payments over the phone and via call centers when shopping online or during payment processes.
The services will be of immense benefits to merchants across the country who will not only be able to accept real-time EFT transfers from all 6 major banks in South Africa, but also gain from lower card acceptance fees whilst providing more customers with the ability to pay on their website with ability to process Refunds, a first of the industry, complete with instant payment notifications and what have.
“We’re excited about the partnership with Callpay, as it allows us to offer highly complementary solutions along with our innovative payment products that have already found great adoption in the local market. We’re convinced that both, instant EFT acceptance and telephonic payment solutions will be important components in eCommerce-, insurance- and business payment processes,” said Andreas Demleitner, co founder of Peach Payments.
The telephonic payment solution will enable contact center agents in companies to accept card payments in a secure and PCI compliant manner without the sensitive payment data being exposed to the agent. While the customer is completing the process, the agent can follow the progress through their console and assist where required. All payments are done over the phone, in real-time.
“We look forward to working with Peach Payments to provide these exciting payment channels for online Merchants. With EFT secure, an instant EFT payment is done within a few seconds, without the customer having to create a beneficiary, send a proof of payment or wait for confirmation of funds clearing.” – said van der Spuy, CEO of Callpay.
