EFT Corporation has integrated Happy Pay’s BNPL service into its hosted checkout platform, offering merchants across South Africa expanded payment flexibility for their e-commerce customers. The service is facilitated through the EFT Corporation’s technology stack, providing a seamless user experience that requires no additional development.
The process is seamless for merchants and consumers alike. If the merchant enables Happy Pay via EFT Corporation’s platform, the option appears at checkout as a payment method. After clicking the button and registering with Happy Pay, an AI-driven approval system assesses affordability and processes credit approval in mere minutes. The buyer’s first instalment, which is 50% of the total amount, is due on their first payday post-purchase, and the remaining 50% is then paid on their next payday.
EFT Corporation and its clients take on none of the risk, with EFT Corporation facilitating the interaction between the consumer and Happy Pay in its built environment. Happy Pay is responsible for onboarding the consumer, settling the full amount with the merchant, and collecting any additional payments directly from the consumer.