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.
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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.
