Instant EFT Now Live with finera.: Powering Local Payments in South Africa

South Africa’s digital economy is accelerating and so is the need for payment methods that move at the same speed.

Consumers expect quick, trusted, and secure ways to pay, while merchants need payment solutions that convert locally and scale globally.

At finera., we believe local trust is the foundation of global growth. That’s why we are thrilled to announce that Instant EFT (Electronic Funds Transfer) is now live with finera., empowering businesses to accept real-time bank transfers in South Africa.

With Instant EFT, customers pay directly from their bank accounts, while merchants receive immediate confirmation of funds. No cards, no waiting, no friction. It’s the simplest way to offer South Africans the payment method they already know and trust.

The South African E-commerce Boom: A Market Ready for Growth

The opportunity in South Africa is undeniable. According to the Online Retail In South Africa 2025 Report by world wide worx, South Africa’s retail sales soared by 35% during 2024, to approximately R96 billion. 

Consumers are online, they are spending, and they are ready to buy.

However, this growth is contingent on one crucial factor: trust. In the South African market, trust is built on familiarity. Offering a localised payment experience that is secure, fast, and familiar is the single most effective way to convert browsing into buying. This is precisely where Instant EFT becomes essential.

What is Instant EFT (And Why Does It Dominate South African Payments)?

Instant EFT (Electronic Funds Transfer) is one of the most widely adopted and trusted online payment solutions in South Africa. It allows customers to make a secure, direct bank transfer from their personal bank account to yours.

Think of it as the gold standard for non-card payments in the region.

Industry research confirms its dominance. After credit and debit cards,Instant EFT is the next most popular online payment method in South Africa. Tellingly, 41% of South African consumers state they are using Instant EFT.

But its real power lies in the "instant."

Traditional EFTs are notoriously slow, often taking two days to clear. This creates a painful customer experience and a cash flow nightmare for merchants. Do you ship the product and risk the payment failing? Or do you make the customer wait 48 hours, all but guaranteeing they shop elsewhere next time?

Instant EFT solves this entirely. For merchants, this means:

• Quick order confirmation.
• Immediate fulfilment of goods or services.
• Vastly improved cash flow.
• A seamless and professional customer experience.

Key Benefits: How finera.’s Instant EFT Integration Transforms Your Business

Integrating Instant EFT through the finera. platform provides immediate, measurable benefits that go far beyond just adding another payment button to your checkout.

Boost Conversion Rates with a Localised Payment Experience

Offering Instant EFT is a direct signal to South African shoppers that you are a professional and trustworthy merchant. When customers see their preferred, trusted bank transfer method, their payment anxiety disappears, and conversion rates climb. And this is something merchants have taken notice of. In fact, industry data shows that 16.4% of business decision makers surveyed in South Africa in 2024 would like to add Instant EFT in the next 12 months. 

Quick and Secure Transactions

Because transactions are processed in real-time, the "payment pending" screen is a thing of the past. Payment is confirmed instantly, allowing you to release digital goods, confirm travel bookings, or ship products with zero delay. This speed is critical for customer satisfaction and operational efficiency.

Reduce Fraud and Minimise Chargeback Risk

This is a critical benefit, especially for merchants in sectors like iGaming, travel, or high-value e-commerce. Instant EFT removes card exposure from the checkout experience. The customer must authenticate the transaction directly with their bank. No card numbers, expiry dates, or CVVs are entered, meaning there’s nothing to intercept or misuse. 

Bank-level security reduces fraudulent chargebacks, protecting revenue and reducing risk for both merchants and consumers.

Beyond a Single Method: The Power of Payment Orchestration

Adding Instant EFT is a powerful move. But integrating it through finera.’s payment orchestration platform is a strategic one.

With finera., global merchants can:

• Intelligently route transactions to the best-performing acquirer, ensuring maximum approval rates.
• Access analytics and reporting for real-time visibility across all payment methods and markets.
• Benefit from 24/7 dedicated support, ensuring uptime, rapid issue resolution, and ongoing optimisation.
• Enhance compliance and security through built-in PCI DSS controls and advanced fraud prevention.

This holistic approach showcases the true advantages of alternative payment methods when 

managed through an orchestration layer. It transforms your payment stack from a simple gateway into a dynamic, revenue-driving engine.

What Are Alternative Payment Methods (APMs) and Why Do They Matter?

For businesses focused on global expansion, understanding APMs is non-negotiable.

So, what are alternative payment methods? Simply put, an APM is any form of payment offered at checkout that is not a major international card scheme (like Visa or Mastercard).

The main types of alternative payment methods include:

• Bank Transfers: Like Instant EFT (South Africa), iDEAL (Netherlands), or Giropay (Germany).
• Digital Wallets: Like Google or Apple Pay.
• Buy Now, Pay Later (BNPL) 
• Cash-Based Vouchers: Such as Paysafecard.

The importance of these alternative online payment methods cannot be overstated. Consumer preference is deeply local. In many countries, APMs are not "alternative" at all; they are the primary way people pay. 

Offering the right mix of global alternative payment methods is essential for any ecommerce, iGaming, retail or any other business seeking to build a global customer base.

Start Accepting Instant EFT Today

The South African e-commerce market is growing fast, and Instant EFT is your key to winning it. With finera., activating this essential payment method is simple, secure and smart. 

We believe that global growth begins with local trust. Businesses succeed when they meet customers where they are, offering payment methods that feel secure, familiar, and effortless.

Whether you’re entering the South African market for the first time or scaling your existing operations, finera. gives you the local infrastructure, speed, and reliability to succeed.

Join the growing number of global merchants offering real-time, trusted payments in South Africa. 

Start accepting Instant EFT today.