SID Instant EFT Banking

SID Instant EFT's roots date back to 1998, the year when Setcom was founded. However, SID itself, was launched in 2007 and currently focuses on the South African market. The company's mission is to help people buy and sell anywhere, anytime. They make simple and user-friendly payment products that allow customers to make or receive payments effortlessly. That coupled with Setcom's payment gateway can really make things easier for the customer as well as the merchant. So let's see how it works. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.


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SID Instant EFT

How It Works?

SID Instant EFT is another tool for merchants in order to boost their sales and make customers life easier. It's a payment system, much like PayPal, for example. The customer makes a purchase and uses SID in order to pay, which transfers the money directly to the merchant’s account. Simple enough, however, with these kinds of solutions, security is always a priority.

Security

Since its launch in 2007, SID has a proven record of zero security breaches. As such, it's recognised as South-Africa's most trusted online payment alternative to credit cards that’s equal to bank-level transaction security. The company is also monitored and verified by leading privacy and security certification specialists from Trust Guard and GoDaddy. In addition to that, SID doesn't store customers’ bank details, so you shouldn't worry about your sensitive information falling into the wrong hands in case of an attack.

Banking

As a merchant, some of the benefits you could enjoy using SID include guaranteed payments and no chargeback or fraud. However, the customer does have a right to file a claim in 45 days if they receive damaged goods. In addition to that, you don't have to bother creating a merchant account. Instead SID pays directly to your bank account. Moreover, SID offers some of the best rates out there, with transaction charges as low as 1.5%. However, there are also monthly charges and additional merchant fees for credit cards.

As a customer, the whole purchasing process is easy. After selecting SID as your payment option, you'll get directed to their checkout screen. There you can choose the bank you like, log in and select your account. After that, you have to wait a bit for the payment details to be processed, after which an OPT PIN or bank's push SMS has to be verified. And since it’s all mobile-compatible, you can pay while sitting behind a desktop or while on the go, using a tablet or a mobile device.

Summary

SID Instant EFT is a mobile-friendly payment method that’s widely used in South Africa. It launched in 2007 as part of the Setcom family and endeavours to make both merchants and customers happier with its simple and secure method of online payment that’s linked directly to the bank account.

Click to visit SID Instant EFT website.

Posted by CCJ Team