At the heart of PayFast is its people; the people who work behind the scenes to make sure that our online payment processing solution meets all of our merchants and their customers expectations. Following on from our Customer Services, Development and Risk & Compliance blogs, in this fourth instalment of our ‘behind the scenes’ series we are showcasing who our Processing team, who forms part of our Financial Operations Department, are and the important work they do in handling all payment-related queries that are sent to PayFast.
Our Financial Operations Department plays a vital role in the daily operations of PayFast as they are responsible for overseeing and managing all payments processed on the PayFast engine. To ensure processes as carried out as efficiently as possible, the department is divided into two teams: Risk & Compliance, which was the focus of the previous blog in this series, and Processing.
As the “bankers” within Financial Operations, the Processing team handles payment-related queries ranging from payment anomalies to chargebacks stemming from various reasons. They also ensure that the money PayFast merchants receive from their customers is correctly allocated to their PayFast account, which they can later payout into their linked bank accounts.
In-depth training processes
The Processing team members come from diverse professional backgrounds ranging from the financial and banking sector to office administration, HR, sales, customer service and even technical. All of these backgrounds were extremely beneficial in preparing the individuals for their roles as Processing Specialists at PayFast.
The first few months are crucial for new employees joining the Processing team as they undergo a full training programme that introduces them to everything about PayFast. This involves explaining who the various departments are and how they work closely together, explaining all payment methods in detail, and the various tasks within the Financial Operations Department. Once the initial training is complete, job shadowing occurs so that they can learn more on the job. One thing for certain is that there is always something new to learn within the Financial Operations Department.
Managing payments, chargebacks and transaction health
A typical day of a Processing Specialist involves processing incoming payments and ensuring that the payment process is as seamless as possible for PayFast merchants and their customers. This entails resolving escalated payment anomalies and completing stalled payments for merchants and their customers. Before completing a stalled payment to complete the payment, the Processing Specialists go through a checklist to make sure there are funds on the account, the balance and order amount match and there are no duplicate orders.
Another vital operation that the Processing team manages are chargebacks, which is the reversal of a transaction by a credit card company based on the reasons given by the cardholder when disputing a charge. The Processing team uses a system called Jira to load and keep track of chargebacks so that they can effectively manage each unique case of mediation between a merchant and their customer in order to find a resolution. The Processing Specialists also rely on statistical analysis to ensure PayFast isn’t exceeding the average chargeback rate, and also do weekly and monthly reporting to track chargebacks received per merchant.
A supportive working framework
Everyone in the Processing team has unique individual strengths that together create a perfect team dynamic. For many, the most rewarding aspect of their job is the support they get from their fellow teammates and the company at large who are genuinely invested in their growth and skills development.
If you are excited by what the Processing team does and have a passion for online payments, view our Careers section and send your CV to [email protected] to find out if you can grow your career with South Africa’s most recognised online payment gateway.