Why EFT matters
Card fees scale with basket size. A capped or lower-cost bank-payment method can protect margin on electronics, furniture, travel, B2B and other high-value orders.
Summary
Best EFT shortlist
Stitch and Ozow are the specialist bank-payment contenders. PayFast offers Instant EFT as part of a broader gateway. Paystack and Peach Payments can fit mixed checkout stacks depending on the store model.
Implementation checks
Compare bank coverage, mobile bank authentication, reconciliation, refund paths, failed payment handling and whether the customer leaves your checkout flow.
Comparison Table
| Provider | Role | Best fit |
|---|---|---|
| Stitch | Bank-payment and API-first payments | Developers and high-ticket merchants |
| Ozow | Instant EFT specialist | Stores prioritising bank-to-bank checkout |
| PayFast | Broad gateway with EFT | Merchants wanting many methods in one account |
| Paystack | Full-stack gateway with EFT signal | Modern checkout teams |
| Peach Payments | Full-stack gateway | Scaling merchants needing support |
FAQ
Is Instant EFT cheaper than card payments?
It can be, especially when EFT fees are capped or when card flat fees and percentage rates make large orders expensive.
Which Instant EFT provider is best in South Africa?
Ozow and Stitch are the specialist names to compare first, while PayFast is useful when you want EFT inside a broader gateway.
Should I offer Instant EFT and cards?
Yes for many stores. Cards help conversion, while EFT can lower costs on larger baskets.
Related Guides
South African gateway guideBest Payment Gateway in South AfricaFee comparisonPayment Gateway Fees in South AfricaShopify storesShopify Payment Gateways in South AfricaHead-to-head comparisonPayFast vs Peach PaymentsHead-to-head comparisonPayFast vs Yoco OnlineWooCommerce storesWooCommerce Payment Gateways in South AfricaPayFast pricingPayFast Fees in South AfricaSmall business guideBest Payment Gateway for Small Business in South AfricaHead-to-head comparisonPeach Payments vs Paystack