Smart EFT and bank deposit


Most businesses have strict payment policies which quite often include, all outgoing payments to be made via EFT. This is normally done to centralise payments and keep a watchful eye on all funds. Adding PayAll allows these businesses to use the Smart EFT payment option. Not only does an EFT option open your customer database to businesses but it also opens your online doors to individual customers who do not own or want to use a credit cards.

PayAll’s EFT payment option enables customers to pay for products and services by electing to either deposit cash at a bank or via electronic transfer. Smart EFT accepts payments from all South African banks. ABSA, Nedbank, and FNB payments will reach PayAll instantly. Other banks and bank deposits may take longer to clear (2 days +). Once the customer selects the Smart EFT or bank deposit option, the customer will then be prompted to choose their preferred banks link.

The Smart EFT service is available to all customers who have a South African bank account. The four major banks (Nedbank, Standard Bank, FNB and ABSA) will reach the PayAll system instantaneously. All other banks may take up to 2 days or more to reflect.

How does Smart EFT work?

Once the customer has been directed to the PayAll payment page, and selected to pay using Smart EFT or bank deposit, the payment information will be displayed. The customer will then be asked to select his/her bank. Once the customer selects a bank, he/she will click the “continue” button. If the customer banks with any other bank, any of the banks can be selected (please note: the merchant’s payment notification will be delayed).

Pay now

  • Customers will utilise the transaction details and reference numbers supplied on the PayAll payment page to complete the payment. The merchant can set an expiry period, which can be displayed on the payment page. This insures the customer pays within a certain time frame.

Pay later

  • Merchants can offer their customers a longer time frame to make a payment. PayAll can either send the customer an email containing the banking details and reference numbers or they can download a PDF information page. This insures the customer has the banking details available when they are ready to make a payment.

Once the customer has made the payment, he/she simply clicks the “I’ve Paid” icon. This will return the customer to the merchant website to continue shopping. PayAll will then send the merchant notification to confirm the customer has made a payment.

How do you know which customers have paid?

When the customer makes a payment via EFT, a transaction notification is created and sent to the merchant with all the EFT reference details. All EFT transactions can be viewed on the online Merchant Portal via this website.

Human Error

Customers can sometimes make mistakes. The following payment notifications have been designed to cater for various scenarios:

Full Payment/ Successful: Payment has been made correctly and successfully.

Partial Payment: The customer has used the correct reference number but the amount paid is less than the basket price.

Overpayment: The customer has used the correct reference number but the amount paid is more than the basket price.

Expired: The merchant required the payment to be made by a certain time and the customer failed to pay within the specified time-frame.

Failed: This is when the customer clicks “Cancel” on the payment page after the EFT details are displayed.

In the event of partial, permanent, over payment or expired payment received, PayAll will match the transaction but it is up to the merchant to contact the customer and request additional payments or provide credits/refunds. All received money that is matched is paid to the merchant regardless of a partial match, expired/late or failed transaction. If a customer calls the merchant to report a mistake, the merchant is advised to contact PayAll and provide the information the customer used to make the payment.

Smart EFT Merchant Portal

The PayAll Merchant Portal provides a view of all EFT transactions and the latest status of each payment. This is the same transaction history PayAll uses to formulate billing invoices, offering merchants complete transparency and a reconciliation platform for your own records.
The client’s transaction is automatically loaded onto the portal once the customer has clicked on the EFT payment option, with the status “awaiting payment”. Once the customer makes the payment, an instant notification will be sent to PayAll by the bank as soon as it is received. PayAll’s matching engines will then match the payment to the initial transaction and send a notification to the merchant to inform them that the payment has been received.


Once a week you will receive a settlement file and your money. This will detail all your transactions and be less all PayAll fees. This process is automated and does not require you to do any additional work.