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Gambling operators can use ABSA EFT as a means of setting up debit payments from players, who can give their approval mandate for scheduled transactions.
ABSA EFT is a financial service that is provided on a business-to-business basis. Fundamentally, this is a service that is used by eCommerce businesses, such as online gambling operators, to debit the various bank accounts of their South African customers.
What makes ABSA EFT stand out is that the service can be used to draw funds not only from one bank, but also from a variety of banks. As such, ABSA EFT has become a financial partner with a wide-ranging number of businesses through devising the service.
Payment Provider Benefits
ABSA EFT outlines a number of benefits that clients can draw from utilising the service. First of all, there is the promise of improved collections, what with all transactions being processed the night before the stated payment deadline.
There is also a greater degree of payment certainty, as they are validated online to determine either an immediate acceptance or rejection. As an online service, it is also quicker to determine which debit orders did not get processed or were not collected.
When it comes to functionality, ABSA EFT works on the basis that debit order mandates are obtained from customers by written, electronic, or voice recordings. Moreover, customers will be made fully aware of when payments are due to be removed from their account, with the ABSA EFT debit service running from Monday to Saturday.