Callpay, a Cape Town-based telephony card based payments company, and South African Fintech startup, Peach Payments have launched an Electronic Fund Transfer (EFT) service and a secure telephonic payment acceptance solution in South Africa.
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 centres when shopping online or during payment processes.
The services allow customers make payments online using their cheque, savings or credit card accounts. The payments are accepted by contact centre agents in a secure and PCI compliant manner – no sensitive data will be 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’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, cofounder of Peach Payments.
The services will be of immense benefits to merchants across the country. On the one hand, they’ll be able to accept real-time EFT transfers from all 6 major banks in South Africa, complete with instant payment notifications and what have.
On the other hand, they will enjoy lower card acceptance fees and provide more customers the ability to pay on their website. Also, they will be able to process refunds, a first for the industry.
“We look forward to working with Peach Payments to provide these exciting payment channels for online Merchants. With EFTsecure, 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