Callpay’s EFTsecure – the most advanced EFT payment solution in South Africa – has become the first solution to add Tyme Bank, Bidvest Bank, Old Mutual Money Account, and African Bank to its checkout options – further establishing itself as a dominant player in the market.
“By adding Tyme Bank, Bidvest Bank, Old Mutual Money Account, and African Bank, we believe another segment of the market will now be able to utilise eCommerce and online shopping – and at the same time, we are giving online merchants a bigger service offering to their own clients,” said Head of Partnerships for Callpay, Thomas van der Spuy.
EFTsecure allows merchants to accept payments from all types of bank accounts – including cheque, savings and credit card accounts – meaning a faster and more secure online shopping experience for buyers.
“EFTsecure opens the online shopping market to millions of South Africans as all banking cards aren’t eCommerce enabled,” said van der Spuy.
“This means more consumers can now shop online and use their online banking profiles with a secure checkout page. Completing a payment takes seconds, with an easy step-by-step process.”
EFTsecure also reduces risks such as chargebacks and fraud for merchants, enabling them to offer improved and timeous payment notifications. It also allows these merchants to offer refunds and using either real-time or daily settlement options.
Security is another key element of EFTsecure, and CTO of CallPay Devonne Burger claims that EFTsecure offers superior security to other solutions.
“Callpay became the first PSP globally to achieve Level 1 PCI-DSS v3 compliance and the first PSP in Africa to achieve Level 1 Payment Card Industry Data Security Standards v3.1 compliant Service Provider status,” said Burger.
“We are regularly evaluated by Pen Testers and vigorously audited by QSA’s against Mastercard and VISA regulations. As EFTsecure is a product forming part of Callpay’s Omni-Payment-Channel, EFTsecure carries the same level of digital security.”
Existing EFTsecure merchants do not need to take any additional steps to add these 4 new banks to their profiles – they simply need to select the activation option from their account.
For more information, please contact [email protected] or 087 550 6850.
This article was published in partnership with CallPay.