What is i-PAY
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.
How does i-PAY work?
Which banks are supported by i-PAY?
Currently we can process Instant EFT when shoppers have accounts with South Africa’s six major banks in South Africa: ABSA, FNB, Nedbank, Standard Bank, Capitec and Investec.
How safe is it using i-PAY?
When making use of the i-Pay service, the communication between you and your bank occurs as it normally would therefore the security of your bank’s internet banking is inherited.
i-Pay has a Thawte EV SSL encryption certificate which gives our payment processing service an extremely high level of security
This ensures that all messages travelling between your browser and i-Pay are encrypted
i-Pay acts as a proxy between the buyer and the bank to facilitate a faster, safer and easier payment process for both the buyer and the seller
Your online banking login details are NOT stored by i-Pay