What is PayFast?
PayFast is a payments processing service that provide South Africans with fast and secure online monetary transfers. This much needed service is easy and instant, and available to both South African individuals and websites.
With PayFast, both buyers and sellers can benefit from safe online transactions. Payfast is free to use for buyers, while sellers are charged a small percentage of each successful transaction.
PayFast has recently announced their plans to revise their structure. This will be done by removing the need for buyers to register a PayFast Basic account. The updates to the engines will make for a more seamless payment experience.
How does it work?
In the past, buyers were required to create an account and enter a password before being able to successfully make a purchase. Soon, the process will be much smoother- buyers will simply initiate the payment process and get redirected to the PayFast payment engine.
Buyers with existing accounts will have the option to keep their accounts active. Many buyers prefer to use an account, as the site securely retains your credit card information, which will speed up the payment process. Buyers who elect to discard their accounts will have the same payment options as new buyers in the future.
New buyers will have the option to create a new account if they choose to do so. Otherwise they can simply proceed directly to payment.
What benefits come with the new changes?
While logging in to an account to make a payment had some security advantages, it often rendered the process more cumbersome. Many buyers perceived this step as an unnecessary barrier to the checkout process. With the future elimination of the registration step, PayFast hopes to reduce frustration and make for a simpler, more efficient system.
What does this mean for me?
Simply that PayFast will become even more convenient. PayFast will caters to all South Africans- whether they’re one off purchasers or regular buyers. Thanks to their new, streamlined process, online transactions are even easier!