Paysoft Verification

Paysoft offers a highly secure and cost-effective electronic fund transfer (EFT) payment system. Payment processing types include salaries, wages, creditors, cards and publicly-listed beneficiaries (currently SARS only). Payments can be made to all BankServ-linked banks in Southern Africa.

Payment processing can occur in Real-time (currently Absa and Nedbank only), or Same-day or One day (All Banks).

Product features

Files can be uploaded via our secure website, or via client system integration (API and secure FTP).

$9.95

Single or bulk transaction processing is available.

$9.95

Service options:

$9.95

Real-time (funds reflect within an hour if paid from the client’s own bank account at Absa or Nedbank).
Same day (funds reflect in the beneficiary account from 20h00 onwards).
One day (funds reflect in the beneficiary account from 24h00 onwards).

Files can be imported from most payroll and creditor systems.

$9.95

Reporting is provided through our secure cloud-based interface.

$9.95

Product benefits

Built-in Check-Digit Validation automatically pre-validates account numbers against bank and branch account rules.

$9.95

The system allows for future-dated payments.

$9.95

All staff payments reflect on the same client-selected action date, irrespective of different banking requirements.

$9.95

Payments can be processed directly from a client’s own bank account.

$9.95

Processing deadlines

For weekdays, all payment batches must be uploaded by client and payment received in Paysoft’s bank account by 15h00 to process the batch on that day. For processing on a Saturday, the funds must be in Paysoft’s account by 15h00 on Friday.