• Nedbank has announced that its Direct EFT payment option is now available at local online retailers.
• It is available thanks to a partnership with Peach Payments.
• The option allows Nedbank customers to pay without having to enter their card details or share bank login details.

Nedbank has announced the availability of one of its key payment option for those customers wanting to transact more easily and securely at online retailers. This as Nedbank Direct EFT is now available for online shopping thanks to a recent partnership with Peach Payments.

It now sees Nedbank Direct EFT available on all ecommerce sites that have Peach Payments as an option at checkout.

For those unfamiliar with Direct EFT, it allows Nedbank customers to securely make payments directly from their bank account without having to enter their card details or share bank login details on a merchant’s website.

“We expect very quick adoption of Nedbank Direct EFT by businesses that want to offer their customers easy, safe payment options,” noted Rahul Jain, Peach Payments co-founder and CEO (pictured above).

“Peach Payments and Nedbank have worked closely over several years to help merchants grow their ecommerce businesses. This is another positive step toward the goal of opening up ecommerce to more consumers in a safe and reliable way,” he added.

This new option is not the only one from a local financial institution to be supported by Peach Payments, with a partnership also in place for Capitec Pay too. As such, the service provider expects to see more banks join its ecosystem.

“This banking practice provides third-party financial service providers with open, permission-based access to consumer banking, as well as financial data such as transactions from financial institutions. It is widely considered a key way to democratise financial services, as it gives consumers more choices in how they manage their money,” it highlighted in a release regarding the functionality of Nedbank payment solution.