As the South African payment ecosystem evolves, Nedbank Direct EFT introduces a secure, modern alternative to traditional screen scraping methods. Below, we answer your most common questions about Nedbank Direct EFT and how it benefits your business.

What is Nedbank Direct EFT?

Nedbank Direct EFT is a secure, fast, and regulation-compliant payment method for Nedbank customers. It lets buyers pay directly from their bank account without entering their online banking usernames or passwords on the merchant site. Instead, buyers can use their SA ID number and authenticate the transaction using the Nedbank Money banking app.

How does Nedbank Direct EFT work?

1. The buyer selects Nedbank Direct EFT at checkout.

2. They enter their SA ID number (or Passport number for non-SA citizens).

3. They are redirected to the Nedbank Money app to approve the payment.

4. Once approved, they return to your website to complete the transaction.

What are the benefits of Nedbank Direct EFT over screen scraping?

For your business:

1. Faster payments

2. Fewer drop-offs

3. Higher security and fraud resistance

4. Better uptime and stability

For your customers:

1. Smooth, mobile-first experience

2. Safer payments without sharing login details

How do I get Nedbank Direct EFT for my store?

Nedbank Direct EFT is included by default as part of Instant EFT. However, Nedbank requires merchants to go through a vetting process before being allowed access.

Here’s how it works:

1. Verify your account.

2. Enable Instant EFT on your Payfast by Network dashboard. Note: If you've already done the first two steps, we have already submitted your details to the bank and are in the process of enabling Nedbank Direct EFT for your store.

3. We will submit your merchant details to Nedbank.

4. Nedbank checks:

   1. If your business is on their sanctions list

   2. What industry your business operates in

5. If you meet their requirements, we will enable your store for Nedbank Direct EFT.

Do I need to change my integration?

You don't need to make any changes on your side. If you're already using Instant EFT with Payfast by Network, and you’re approved by the bank, Nedbank Direct EFT will be automatically added to your list of payment options at checkout.

What are the fees for Nedbank Direct EFT?

Nedbank Direct EFT is charged at the same rate as your current Instant EFT fees:

1. a standard 2% per transaction (minimum of R2) excluding VAT, or

2. your current customised pricing for Instant EFT

Still have questions?

If you have any questions or need help enabling Instant EFT, do not hesitate to reach out to our Merchant Services team via live chat during business hours. 

Stay ahead of regulatory changes and offer a smoother payment experience - get started with Nedbank Direct EFT today.