Rapid Instant EFT is our Instant EFT switch for eCommerce Merchants. Powered by Rapid Payments Africa, our merchants’ customers in South Africa can now pay using their cheque, savings or credit card accounts on your website. All EFT payments are confirmed in Real-Time and allows the merchant to dispatch goods and services on successful payment notification by Rapid Instant EFT, as payment is guaranteed. We have developed Rapid Instant EFT to accept EFT payments online and in real-time from ALL the major Banks in South Africa. Our innovative Instant EFT solution fully supports and automates refunds, withdrawals (Payouts) via our RestFul API, which makes is an extremely valuable feature for our merchants, where required by the Merchant. Rapid Instant EFT provides Monthly, Bi-Monthly and weekly settlement options. Our payment solutions are unique in every sense of the word, which combines clever innovation, ease of use and automation to scale.
A PayFac is a company that simplifies the payment process for sub-merchants by providing a unified platform. They act as a middleman between the sub-merchant and the acquiring #bank and handle all the necessary compliance and underwriting processes.
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