Benefits for the merchant
Pay@ has considerable knowledge and experience in securely handling large volumes of transactions on a daily basis. The entire transactional process is administered by Pay@, including:
- Bill presentment with an unique reference number for each transaction
- Real-time validation of reference numbers
- Payment business rules
- Payment receipts
- Reconciliation and settlement
Bulk settlement of the aggregate transaction amounts collected across payment networks takes place from Pay@ to the Bill Issuer within two days of the transaction being processed.
At the end of each day, the information received from the various payment networks is reconciled and a file is prepared for the Bill Issuer, delivered before 08h00 on the following business day. Our unique system is currently the only service provider that has eliminated unallocated payments due to real-time validation.
Benefits for the payer
The Pay@ platform is a convenient transaction channel for both banked and unbanked customers. The large footprint that Pay@ has established allows the payer to conveniently pay their bills at any of their retailers across South Africa.
Alternatively Pay@ provides the option for digital payments via mobile apps.