EFT Credits is a payment service where a business or organisation credits the account of their client or employee in order to fulfil the obligations of an underlying agreement. This solution contains a fully integrated "rules engine" minimising risk associated with electronic payments.
The Solution allows for electronic payments to:
Credits to all South African bank accounts with an ACB Clearing code are supported and the funds are available on a Same Day Value Basis
Through the ALLPS-i solution, an eWallet account is opened and payments to the eWallet are credited on a near real-time basis. The transferred funds are available immediately and the funds are accessible regardless of whether the recipient of the funds has an existing bank account or not. There is no bank card involved. The eWallet is accessed through the recipient's cellular phone and therefore it is a cost effective solution. The optional ability to sponsor the first withdrawal at a FNB ATM so that the recipient does not have to incur the cost of the first cash withdrawal is supported. Withdrawals are limited to FNB ATM's, and are available 24 hours a day and 365 days a year.
Through the ALLPS-i solution, an eWallet account is opened on a near real-time basis. A VISA branded Feza Card and PIN is then issued to the client or employee and linked to the eWallet. Payments to the eWallet are credited on a near real-time basis and are immediately available.
The Feza Card Holder is able to withdraw the funds at any Saswitch ATM, use the pre-paid VISA card for purchases at any retail outlet that support VISA Debit Card purchases, and perform over the counter cash withdrawals at selected retail outlets at a highly reduced withdrawal fee. These functionalities form an integral part of our Solution.
All eWallet Account holder information is protected from cross selling campaigns. The ability to sponsor the first withdrawal at a FNB ATM is supported so that the recipient does not have to incur the cost of the first cash withdrawal.
All business or organisations making payments to clients or employees can benefit from this solution.