Real Pay Review

INTRODUCTION TO REAL PAY

Since it was founded in 2003, the Real Pay team has developed a leading system for the simplification of payments, which is a strong solution to the growing demand for electronic solutions and multiple payment options across Southern Africa.

The company’s first collection solution was launched in Botswana in 2006, and since then the company has expanded its reach to South Africa, Namibia, Swaziland, Lesotho, and Zambia.

With that Real Pay has led the way in providing time-sensitive payment solutions on the continent of Africa, and the company’s practical but innovative technological offering boosts its multi-bank web-based payments system.

The company also distinguishes itself in the debit order and payment technology market with real-time management reports and an interactive dashboard for a highly navigable user experience.

Real Pay’s system can be adapted to a variety of financial environments, from small businesses to multinational corporations, and the company seeks to be Africa’s preferred payments stream service on account of its quality service, unique approach, and strong partnerships.

Real Pay strives to offer leading collections and disbursement solutions through exclusive, advanced, and innovative technologies that are complemented by excellent customer service.

Real Pay provides a secure online platform for the collection of funds using debit orders to its South African clients.

Normal debit order services are offered to mature markets as an alternative collection method, and successful collections are increased by utilizing the company’s Real-Time Account Verification System (AVS-R).

The founders of Real Pay developed this system to simplify payments and address the growing demand for electronic solutions after they identified the need for multiple payments in Southern Africa. Hence the company’s vision is to lead the transition of digital payments in Africa, enabled through custom-made solutions, trusted proficiency, and specialized knowledge.

Real Pay has a mission to optimize business cash flow through efficient and stable payments systems, innovate through collaboration with our stakeholders in the payments ecosystem, enable simplified and seamless integrations through open API, and provide world-class safe, and secure platforms.

Real Pay offers slightly various products to clients in different countries in Southern Africa.

Products available in South Africa

Real Pay offers users a secure online platform to collect funds via debit order and is ready to pilot DebiCheck while offering time-sensitive payments solutions through the Non-Authenticated Early Debit Order (NAEDO) and Authentic Early Debit Order (AEDO) streams in South Africa. Successful collections are increased by utilizing a Real-Time Account Verification System (AVS-R).

Real Pay is live with DebiCheck after completing the industry testing phase with both its sponsoring banks, FNB and Absa. Having received the DebiCheck live announcement from the banking industry, Real Pay is intensifying the process of onboarding pilot users and commencing with the in-production DebiCheck pilot with its users.

From a development and product bouquet perspective, Real Pay is in an advanced position with the development of the mandatory transaction types with both sponsor banks, FNB and Absa, while offering alternative transaction initiation options (integration, interface, bulk file upload, and mobile app).

Real Pay is particularly excited to take on the DebiCheck journey with its valued users since the DebiCheck initiative is an innovative new debit order verification process that allows the account holder to certify that debit orders are legitimate and correct. These debit orders must first be authenticated and accepted by the account holder before they can be processed.

The account holder can authorize the DebiCheck debit order via Cellphone Banking (USSD capability), Online Banking, In-branch Banking, Banking Apps or ATMs.

Real Pay provides a mobile Authenticated Early Debit Orders (AEDO) platform enabling its users to obtain a non-disputable card and pin-mandated promise to pay either in their place of business or out in the field.

Real Pay offers Normal Debit Orders (NDO) also called Dated Service. Funds from these dated service transactions are collected from all South African banks partaking in this payments stream.

The Real Pay Account Verification System – Real-Time (AVS-R) verifies account numbers, and reports on nine critical fields and accompanying information, enabling users to optimize both collections and payments.

The Real Pay Non-Authenticated Early Debit Orders (NAEDO) collections system enables users to collect funds from all banks through the sponsoring banks Absa and FNB.

Products available in Eswatini

The Real Pay Non-Authenticated Early Debit Orders (NAEDO) collection system enables users to collect funds from all banks through the sponsoring banks, Absa and FNB, in Eswatini.

Real Pay provides a mobile Authenticated Early Debit Orders (AEDO) platform enabling users to obtain a non-disputable card and pin-mandated promise to pay either in their place of business or out in the field.

Funds from Normal Debit Orders / Dated Service (NDO) transactions are collected from all banks participating in this payment stream.

Products available in Namibia

The Payment Association of Namibia, in partnership with the banking institutions and payments system providers in that country, will soon introduce a brand-new solution comprising three new payments streams:

• Enhanced Debit Orders (EnDO) – allows for early-morning debits from all major banks in Namibia. If paying customers do not have sufficient funds in their accounts at the time of collection, the debit order will automatically and systematically be resubmitted for a specified tracking period.
• Enhanced Credit Payments (EnCR) – allows for bulk beneficiary payment instructions.
• Near-Real-Time Credits (NRTC) – allow for beneficiary payment instructions in a short amount of time.

The new payment streams will replace the existing EFT stream due to a legislative need for greater efficiency in the processing of payments in the National Payments System.

Due to the impact that these new payment streams will have on the country, all users and consumers will be smoothly transitioned in a phased approach, from using the existing EFT payments stream to the new streams, starting with EnDO.

Once EnDO is approved for rollout, Real Pay will actively engage with all its users regarding the features and benefits of this new payment stream.

Funds from the Normal Debit Orders / Dated Service transactions are collected from all Namibian banks participating in this payments stream.

EFT Credits (Payouts) enable users to pay out funds in real-time to FNB bank accounts, and a next-day service is provided to all other banks in Namibia.

Real-time debit orders enable users to collect funds early morning in real-time and offer an option to intervene manually.

Products available in Botswana

Real-time debit orders enable users to collect funds early morning in real-time and offer an option to intervene manually.

Funds from Normal Debit Orders / Dated Service transactions are collected from all Botswana banks participating in this payments stream.

The Real Pay Visa Debit Card Solution enables users to upload transactions for future-dated installment collections with all the major Visa- participating banks in Botswana.

Products available in Lesotho

Real-time debit orders enable users to collect funds early morning in real-time and offer an option to intervene manually.

Normal Debit Orders / Dated Service and EFT Credits (Payouts) that enable users to disburse funds in real-time to FNB bank accounts, and a next-day service is provided to all other banks in Lesotho, will be launched soon.

Products available in Zambia

Normal Debit Orders / Dated Service transactions will be collected from all Zambia banks participating in this payments stream, soon.

The Real Pay Visa Debit Card Solution that will enable users to upload transactions for future-dated installment collections with all the major Visa-participating banks in Zambia will be launched soon.

Real-time debit orders will soon enable users to collect funds early morning in real-time and offer an option to intervene manually.

HISTORY AND HEADQUARTERS OF REAL PAY

Real Pay was founded in 2003, and in 2006 the first Real Pay collections solution was launched in Botswana. Additionally, unique product offerings were introduced in South Africa, Namibia, Eswatini, Lesotho and Zambia – pioneering time-sensitive payments in Africa.

Real Pays is a practical and innovative technology that strengthens its multi-bank web-based payments system while real-time management reports and an interactive dashboard differentiate it from traditional debit order platforms.

Real Pay’s head office is located at Block B Milestone Place, 25 Sovereign Drive, Route 21, Corporate Park, Irene, Pretoria.

SERVICES AND FEATURES OF REAL PAY

Real Pay operates in 6 countries in Southern Africa, it has more than 17 years of experience and has 26 products on offer to more than 1600 happy clients. They provide the following services:

DebiCheck

Real Pay has completed the DebiCheck industry testing phase with both its sponsoring banks, FNB and Absa.

AEDO

Real Pay provides a mobile Authenticated Early Debit Orders (AEDO) platform to enable users to obtain a non-disputable card and pin-mandated promise to pay from customers.

NDO

Funds from Normal Debit Orders / Dated Service transactions are collected from all participating banks.

NAEDO

The Real Pay Non-Authenticated Early Debit Orders (NAEDO) collection system enables users to collect funds from all EDO-participating banks through our sponsoring banks Absa and FNB.

Common Monetary Area (CMA) Debit Orders

Funds are collected into a Real Pay account and settled into the user’s nominated bank account at an agreed-upon interval.

Visa Debit Card Solution

The Real Pay Visa Debit Card Solution enables users to upload transactions for future-dated installments with all the major Visa- participating banks.

AVS-R

The Account Verification System – Real-Time (AVS-R) verifies account numbers, and reports on nine critical fields and accompanying information, enabling users to optimize both collections and payments.

EFT Credits (Payouts)

The product allows users to disburse funds in real-time to FNB bank accounts, and a next-day service is provided to all other banks.

Real-Time Debit Orders

Real-time debit orders enable users to collect funds early morning in real-time and offer an option to intervene manually.

Enhanced Debit Order Stream (ENDO)

The EnDO payments stream allows for early-morning debits from all major banks in Namibia.

PAYMENT METHODS ACCEPTED

Real Pay accepts convenient payment methods including Instant EFT, Bank EFT, Credit Card, Visa Checkout, Cash Payments, and QR using major wallets or banking apps.

SAFETY OF REAL PAY

Real Pay adheres to the rules and regulations of the following authorities:

• The Payments Association of South Africa and Accreditation
• The Payment System Stakeholder Forum
• The Payments Association of Namibia
• The Commercial Independent Bureaux Association
• The Financial Services Board
• The Industry Regulation and Association Payment Association of South Africa
• Compuscan
• Excalibur
• Micro Finance South Africa
• Micro Lenders Association of Namibia
• Micro Lenders Association of Botswana
• Namibia Financial Institutions Supervisory Authority
• Non-Bank Financial Institutions Regulatory Authority
• National Credit Regulator
• Proloan
• Sa Teachers’ Union
• Verishare

CUSTOMER SUPPORT

Users can chat to Real Pay via a chat option on the website, they can complete their details and one of the payment advisors will call them to discuss their unique needs.

A phone number is also provided for 24-hour support. The physical address of the Real Pay headquarters is Block B Milestone Place, 25 Sovereign Drive, Route 21, Corporate Park, Irene, Pretoria.

SUMMARY

FAQ

What features must be considered when evaluating a payment gateway for your needs?

• Security
• Easy integration
• Detailed reporting
• Good invoicing options
• Multiple payment options
• Fast processing speed

What is a payment service provider?

Payment service providers connect merchants, consumers, card brand networks, and financial institutions to deliver a simple payment experience for merchants and their customers by processing payments quickly and efficiently.

How does Real Pay work?

Real Pay facilitates debit order collections directly between a beneficiary user and an account holder.

Who Can Make Use of Real Pay?

The Real Pay system can be made available to any business that requires a simplified way to collect recurring installments.

Is Real Pay secure?

Real Pay adheres to the rules and regulations of several authorities.

What are the costs involved?

The different pricing structures and options will be discussed once you have been in contact with a business consultant.

Can real pay integrate with other systems?

Yes, it is integrated with various administration systems and will consider integrating with any new systems.