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i-Pay, PayU roll out new EFT system to SA online stores
Online payment gateway i-Pay and Naspers-owned payment solution PayU‘s collaboration is rolling out to online stores. Named PayU EFT Pro, the service will be available to online stores who utilise PayU as a payments gateway.
The two companies partnered in September last year in order to create automated EFT solutions for the online SA market.
Clients who utilise this feature will make an EFT payment via their bank’s online portal; the funds will then be paid directly into the merchant’s bank account.
According to a press release sent to Ventureburn, i-Pay “guarantees the highest level of security when paying online,” which should be an attractive feature for merchants.
Read more: Can i-Pay boost SA’s ecommerce by making EFTs cool?
i-Pay launched in November 2014 and was founded by French-born CEO of Just Perfect Digital, Thomas Pays. In an interview with iOL last year, Pays said the collaboration should allow i-Pay to expand to Kenya and Nigeria within a year.
In a previous interview with Ventureburn, Pays said the company is looking to develop a mobile solution to compete with the likes of SnapScan, Zapper, and others.
