Instant or automated EFT is a streamlined version of a traditional EFT. It makes payment of a bank transfer a lot faster and easier by eliminating certain steps such as reference number and amount entry. The payment method only requests from clients, those values which are not known to them such as account number and one time pins.
Ozow (formerly iPay) or the Merchant (SweepSouth) do not access the sensitive and confidential information of clients, your personal data remains entirely safe and private.
When making use of the Ozow service, the communication between you and your bank occurs as it normally would, therefore, the security of your bank’s internet banking is inherited.
- Ozow guarantees the highest levels of security when paying online
- Ozow has a Thawte EV SSL encryption certificate which gives our payment processing service an extremely high level of security
- This ensures that all messages traveling between your browser and Ozow are encrypted
- Ozow acts as a proxy between the buyer and the bank to facilitate a faster, safer and easier payment process for both the buyer and the seller
- Your online banking login details are NOT stored by Ozow