Electronic Funds Transfer (EFT)

This highly efficient operation reduces the cost of the switching for the client while also offering the retailer a number of benefits, including the reduced cost of switching, and retaining control of their payments business strategy while handing over the switching and technical aspects to BLT. Fraud and accounting risks are reduced as a point-of-sale process is required for gift/merchandise/loyalty card transactions and because all transactions are processed through one switch, reconciliations are easier to perform. Additional value added services can be deployed seamlessly through a common infrastructure, including: prepaid airtime, prepaid electricity, national lottery games such as Lotto, Lotto Plus, Powerball and Sportstake; UniPin – a convenient mechanism to purchase prepaid electricity; Bella – a cost effective international calling card; loyalty and gift card programmes; and Private Label credit card. Because EFT is integrated into the POS results, rental of a standalone terminal is no longer required, resulting in cost reductions as the Pinpad replacement for the standalone terminal is far less expensive to rent. 

The consumer benefits from the immediate conclusion of each transaction, the increased speed of transactions and the value added services available at the POS.

Please use the following reference when calling:  BLT Webref