If you’re not too familiar with payment gateways, the whole process might seem slightly confusing to you. If this is the case, don’t worry; it’s only because no one has given you a simple explanation. We are happy to do you one better and help you with an i-Pay demo. But, for now, here are the basic steps in the i-Pay payment process.
How i-Pay Works: The Payment Process Explained
When a customer reaches the checkout page of an ecommerce website, there is a list of payment gateways that will be displayed, having been set up by the site’s owner. i-Pay will be a part of this list. All the customer has to do is select i-Pay and click ‘Proceed’ or ‘Next’, etc.
2. Bank Select
From there the site will know that i-Pay is handling the payment. I-Pay will then take over and connect the customer with his or her bank. It will do this by offering a list of the top banks in the country, being Absa, FNB, Standard Bank, Nedbank, Capitec, and Investec. All the customer has to do is select the desired bank from this list.
Once the customer has selected his or her desired bank, i-Pay facilitates the login process. The customer will then input his or her login details as if it were a regular login to online banking.
4. Account Select
Sometimes customers have different accounts with the same bank. i-Pay makes it possible to use any of these accounts to pay. Once the customer’s bank has been accessed, i-Pay will offer a menu of all the accounts linked to that customer. The customer then simply has to choose the account from which the payment should be made.
5. One-Time Pin
In order to verify that it is the owner of the account trying to make a payment (and not a fraudulent login) a one-time pin will be sent to the customer’s phone. This is a 4-digit numerical code that can only be used for one payment. The customer must enter this code into the i-Pay app where prompted. This will ensure the bank that the right customer is trying to make the payment, and will move the process to the verification stage.
6. Payment Approval
Once the bank is satisfied that the customer is the owner of the account, it will approve and process the payment. The customer will then see a ‘Payment Successful’ notice come up on screen. This confirms that the payment has gone through, and the transaction is complete. It’s as simple as that!
As we said, we’d be happy to assist you with an i-Pay demo if you’d like to know more about the process. But, if you’re happy with the simplicity of the process, contact us to get started today!
Image credit: https://www.truelancer.com/blog/freelance-payment-options-in-bangladesh/