#Africa Peach Payments, Callpay launch EFT payment system for SA e-commerce

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South African mobile payments startup Peach Payments has partnered secure payments solution Callpay to provide automated electronic fund transfers (EFT) as well as secure telephonic payment acceptance solutions for e-commerce platforms.

The two companies said the innovative products will enable millions of South Africans to make instant and secure payments when shopping online or during payment processes over the phone and via call centres.

Online shoppers will now be able to pay online using their cheque, savings or credit card accounts, with merchants that sign up through Peach Payments able to accept real-time EFT transfers with instant payment notifications.

The telephonic payment solution will enable contact centre agents in companies to accept card payments in a secure and PCI compliant manner without the sensitive payment data being exposed to the agent.

“We look forward to working with Peach Payments to provide these exciting payment channels for online merchants. With EFTsecure, an instant EFT payment is done within a few seconds, without the customer having to create a beneficiary, send a proof of payment or wait for confirmation of funds clearing,” said Callpay chief executive officer (CEO) JP van der Spuy.

Andreas Demleitner, co-founder of Peach Payments, said he was excited about the partnership as it allowed Peach Payments to offer highly complementary solutions along with its payment products that have already seen great adoption in the local market.

“We’re convinced that both instant EFT acceptance and telephonic payment solutions will be important components in e-commerce, insurance and business payment processes,” he said.

Launched in Cape Town in 2013, Peach Payments makes customer payments to online merchants seamless and secure and is now processing more than ZAR1 billion (US$72.75 million) in transactions per year.

The startup launched its PaySafe offering late last year, and is now expanding into Kenya and Nigeria with plans for other African countries in the near future.

The post Peach Payments, Callpay launch EFT payment system for SA e-commerce appeared first on Disrupt Africa.

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