Market coverage 1
["South Africa"]
South Africa
South Africa
Currencies 1
- South Africa Rand
Description
EFTPro is an electronic payment method in South Africa that allows businesses to process transactions in real-time directly from their bank accounts. This payment method is primarily used for mass payments, such as salaries and expense reimbursements.
With EFTPro, payments can be made to one or multiple beneficiaries in a single transaction, which simplifies the payment process and reduces administrative costs. Payments can be made via an online platform or through a system integration, depending on the needs of the business.
EFTPro uses South Africa’s national payment system, called the National Electronic Payment System (NEPS), to transfer funds between participating banks. NEPS is an efficient, reliable, and secure electronic payment system that allows for fast and real-time fund transfers.
In summary, EFTPro is a practical and efficient electronic payment method for businesses in South Africa, which allows for real-time mass payments via an online platform or system integration.
