i-Pay Instant EFT – a quick and safe payment alternative

19 December 2017

We are firm believers in ‘Local is Lekker’ and have been keeping a close eye on i-Pay for some time now. We had tried several Instant EFT solutions in the past for our customers, but they all seemed very clunky and slow. i-Pay has definitely disrupted this space and is a proudly South African service. We are pleased to announce that PlanPrintSA.co.za is our first site offering i-Pay and we will be rolling the service out to our other sites in 2018.

You can read more about i-Pay here.

Here is a short guide on how the i-Pay payment process works:

1. Checkout

When a customer reaches the checkout page of an ecommerce website, there is a list of payment gateways that will be displayed, having been set up by the site’s owner. i-Pay will be a part of this list. All the customer has to do is select i-Pay and click ‘Proceed’ or ‘Next’, etc.

2. Bank Select

From there the site will know that i-Pay is handling the payment. I-Pay will then take over and connect the customer with his or her bank. It will do this by offering a list of the top banks in the country, being Absa, FNB, Standard Bank, Nedbank, Capitec, and Investec. All the customer has to do is select the desired bank from this list.

3. Login

Once the customer has selected his or her desired bank, i-Pay facilitates the login process. The customer will then input his or her login details as if it were a regular login to online banking.

4. Account Select

Sometimes customers have different accounts with the same bank. i-Pay makes it possible to use any of these accounts to pay. Once the customer’s bank has been accessed, i-Pay will offer a menu of all the accounts linked to that customer. The customer then simply has to choose the account from which the payment should be made.

5. One-Time Pin

In order to verify that it is the owner of the account trying to make a payment (and not a fraudulent login) a one-time pin will be sent to the customer’s phone. This is a 4-digit numerical code that can only be used for one payment. The customer must enter this code into the i-Pay app where prompted. This will ensure the bank that the right customer is trying to make the payment, and will move the process to the verification stage.

6. Payment Approval

Once the bank is satisfied that the customer is the owner of the account, it will approve and process the payment. The customer will then see a ‘Payment Successful’ notice come up on screen. This confirms that the payment has gone through, and the transaction is complete. It’s as simple as that!