What is PayFast
|PayFast is a payments processing service for South Africans and South African websites. We enable easy, secure and instant transfer of money between online buyers and sellers.|
Currently we can process Instant EFT when shoppers have accounts with South Africa’s four major banks:
- Standard Bank
Payment methods processed and supported
- Credit & cheque cards
Credit cards are well known and a de facto online payment method the world round. We process local and international credit cards and cheque cards, with a variety of fraud protection mechanisms in place to protect sellers against costly chargebacks. Learn more.
- Instant EFT
Instant EFT enables buyers to make payments with traditional internet banking with SA’s four biggest banks. The electronic funds transfer (EFT) gets verified instantly. No two day waiting period, no proof of payment required and no disclosing of financial information. Learn more.
Bitcoin is an innovative digital payment method, performed over a peer-to-peer network. Sellers can now receive payment from buyers who hold Bitcoin. The seller receives payment in South African rand; the buyer simply transacts at the current rate of exchange. Learn more.
What is EFT?
|Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems and without the direct intervention of bank staff.|
EFT transactions can be accepted from any South African bank.