Automated EFT startup shows impressive growth

Praemon

Expert Member
Joined
Jan 11, 2007
Messages
1,588
... There is shortfalls such as only 4 banks being supported and then you as the Merchant are prone to "Sorting at Source". This is completely prohibited by PASA and the Payment Systems Act, a potential risk you need to carry as a Merchant.

I don't see how that applies to PayFast or similar mechanisms. I may be mistaken, but sorting at source is for push/pull transactions by the merchant (ie. card transactions and debit orders). An EFT doesn't fall into those categories since it's the customer that actions the payment, and the receiver has no say over it. Therefore there's no risk to the merchant for using services like this, as they are not doing anything prohibited by PASA.
 
Joined
Dec 7, 2010
Messages
78,906
I don't see how that applies to PayFast or similar mechanisms. I may be mistaken, but sorting at source is for push/pull transactions by the merchant (ie. card transactions and debit orders). An EFT doesn't fall into those categories since it's the customer that actions the payment, and the receiver has no say over it. Therefore there's no risk to the merchant for using services like this, as they are not doing anything prohibited by PASA.

Yeh, I agree with this.
 
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