ABOUT US
Efficacy Payments is a South African payments company that was founded to displace cash in formal and informal retail environments. It is our vision to drive the electronification of payments and foster greater financial inclusion in key African markets.
We take a partner-led approach to payments innovation, working closely with banks, retailers and financial services providers to develop customer-centric payments solutions. Driven by a senior team with a wealth of experience in the local and global payments, technology and financial services industries, Efficacy Payments works with our partners to develop innovative digital payment systems that deliver new levels of inclusion, relevance and value to consumers and businesses.
OUR CUSTOMERS
Efficacy Payments works closely with partners and customers to develop innovative payment solutions that bring new forms of value to retail, banking, insurance and SME sectors. Our solutions seek to displace cash and encourage greater adoption of electronic payments in card-accepting environments. All our solutions stimulate business growth through innovation and are fully compliant with local regulatory requirements.
BANKS
RETAILERS
INSURERS
PAYMENT GATEWAYS
SME
OUR SOLUTIONS
We believe the best payments innovations come from a collaborative approach that engages banks, payments providers, merchants and other value providers to solve specific business or customer challenges. Our deep sector experience and strong relationships enable us to develop innovative payment solutions that enhance the customer experience and expands opportunities for customer engagement in key retail, banking, insurance and SME environments. Efficacy Payments applies a partnership-led approach to innovation instead of trying to disrupt existing models. We utilise the interoperable tracks established by Visa, Mastercard and BankServ to develop compliant and innovative solutions for the highly regulated payments sector.
CARD POS ACCEPTANCE
Despite the fact that 80% of South African adults have a bank account, cash use is still growing at a rate of 6-10% per year. This points to a need for greater access to convenient, safe and affordable digital payment alternatives such as card payments. Greater electronification of payments reduces the risk on merchants and consumers and opens up a world of value-added services that bring convenience and value to consumers’ lives. We work closely with small and medium enterprises to displace cash and empower businesses to accept electronic payments. In the informal market, the electronification of payments also enables merchants to offer a range of other products and services to customers. Through our partners, Efficacy Payments can offer merchants physical point-of-sale devices that enable customer access other services such as airtime, funeral cover, insurance and more.