In our current day-to-day activities the convenience of buying goods or paying for services online is as much a necessity as it is a luxury. However, payment ease and security remain 2 of the main reasons why many consumers don’t change their shopping preference to online.
Therefore, Nedbank has committed to leveraging its leadership position in digital transactional solutions to modernise the online shopping experience for its clients, and its latest innovative offering is evidence of this commitment in action.
Nedbank Direct EFT is a new payment solution that offers Nedbank clients the ability to pay securely using EFT when shopping online. Nedbank account holders can pay for goods and services online using Nedbank Direct EFT, providing choice when selecting a method to pay, such as credit and debit cards. The EFT service seamlessly integrates with the online shopping journey and offers a simple and secure payment alternative that leverages the robust infrastructure of digital banking platforms in Nedbank.
Nedbank Direct EFT is designed to make it easy, secure and convenient for any Nedbank client to shop online with total confidence. According to Thabiso Wessie, Senior Specialist for Emerging Payments at Nedbank, the Nedbank Direct EFT not only streamlines the online shopping experience, but it also gives online shoppers peace of mind. ‘At Nedbank, we know that the essence of a great online shopping experience is ease and trust,’ Wessie explains. ‘As the e-commerce payment offerings of many retailers have quickly evolved in recent years, we’re committed to staying ahead of the curve by providing our clients with digital payment solutions like Nedbank Direct EFT, which safeguards their privacy and enhances their overall shopping experience.’
‘Our approach is to make Nedbank’s security capabilities a part of our client’s payment experience,’ Wessie explains, ‘and by simplifying the online payment process while enhancing protection, the Nedbank Direct EFT gives our clients the best of both worlds – removing complexity and giving peace of mind when transacting online.’
The innovative Nedbank Direct EFT is embedded into the checkout process of participating third-party payment providers. Completing a purchase is as straightforward as selecting Nedbank Direct EFT as the desired payment method at checkout and then confirming the transaction through the familiar interface of the Nedbank Money app or Online Banking. Final transaction confirmation then takes place via a secure Nedbank Approve-it message on the client’s mobile device, ensuring that they are always in full control of their money.
‘EFT payments are the second most popular way to pay online, and we have seen a steady growth in the number of clients choosing this option at checkout,’ Wessie says. ‘Now, as one of the first banks to leverage Open Banking technology to deliver a new level of secure and easy EFT payments, Nedbank is directly addressing clients’ needs in online transactions. Our solution gives them an alternative payment option that aligns to Nedbank’s strategic intent of increasing financial inclusion.’
‘At Nedbank, we are committed to offering our clients innovative solutions and like all our digital solutions, Nedbank Direct EFT has been crafted to reimagine the role of payments in the market – this solution gives our clients security and convenience that goes beyond banking,’ Wessie concluded.
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