Scale your business with Payfast fastest growing payment method – Instant EFT
An EFT is the second most popular online payment method in South Africa after credit and cheque cards. Activate Instant EFT as a payment option in your Payfast account and give customers the choice to create an EFT payment automatically on our system.
Supported banks:
FNB
ABSA
STANDARD BANK
NEDBANK
INVESTEC
TYMEBANK
AFRICAN BANK
BIDVEST
How Instant EFT payment works
- The buyer selects their bank and logs in using their online banking credentials.
- Next they choose from which account they will be making the EFT payment.
- Buyers then verify the payment with their bank on their mobile device.
- The payment is processed and instantly reflects in your Payfast account.
Benefits of Instant EFT
- Clears immediately; no two day wait
- Support payments made via FNB, ABSA, Standard Bank, Nedbank and Investec
- No delays during checkout
- Only pay a small all-in-one transaction fee when you make a sale
- Quickly action refunds via the Payfast dashboard
Simple, transparent pricing
No setup, monthly or hidden fees. Fees are negotiable based on online sales volumes.
