Cashless banking for all
Physical cash is a pain.
Aside from the security concerns when carrying or handling large amounts of cash, the high costs of drawing and depositing cash and the additional logistical overhead of having to draw, process and distribute cash make it a less-than-ideal solution in our digital world.
Fortunately, there is a solution that meets the needs of employers and card-holders: the Paysoft debit card!
The Paysoft card allows cardholders to enjoy all the benefits of an account-linked card: ATM withdrawals, use at points-of-sale and the security of a card versus cash.
The cards are also perfect for digital wallet solutions, company petty-cash cards, students, short-contract seasonal workers and even employees who may not qualify for full-FICA bank accounts.
You can even opt to have your own logo branded onto the cards, making it a perfect solution for schools, universities and corporate requirements.
You may select from one of three types for each card account opened:
DISBURSEMENT CARD
- Does not require a full FICA process – only the name, surname and SA ID number, passport number or full asylum number of cardholder to open account.
- Draw cash at any ATM, or all major retailers (with any small card purchase).
- Offers point-of-sale transacting at all major retailers.
- View the balance, a mini-statement, buy airtime, change pin and stop card via USSD.
- Cash deposits are not allowed – funds must be transferred via the Paysoft system.
- No debit orders may be processed against account.
- No interest accrues on account balance.
- International transactions are not allowed.
Need more? Consider the Paysoft Lite or Paysoft Plus options.
PAYSOFT LITE
- Savings account
- “FICA-light” E17-exemption account – only SA ID document / smart ID, or passport & work permit, or asylum permit required to open account
- Draw cash at any ATM, or all major retailers (with any small card purchase).
- Offers point-of-sale transacting at all major retailers.
- International transactions are allowed.
- View the balance, a mini-statement, buy airtime, change pin and stop card via USSD.
- Cash deposits into the card may be made by the cardholder at ATMs, all approved retailers and the ABSA branch network.
- Funds may be transferred to the card vis the Paysoft system, or any banking/system operator system.
- No debit orders may be processed against account.
- No interest accrues on account balance.
Ready for a full banking solution? Consider Paysoft Plus.
PAYSOFT PLUS
- Full bank account
- FICA requirements: SA ID document / smart ID or passport & work permit, and proof of address required to open account
- Interest accrues on account balance.
- Draw cash at any ATM, or all major retailers (with any small card purchase).
- Offers point-of-sale transacting at all major retailers.
- Debit orders may be processed against account.
- International transactions are allowed.
- View the balance, a mini-statement, buy airtime, change pin and stop card via USSD.
- Cash deposits into the card may be made by the cardholder at ATMs, all approved retailers and the ABSA branch network.
- Funds may be transferred to the card vis the Paysoft system, or any banking/system operator system.
Remove the hassle of cash payments.
Let us show you how…
How it works
Benefits
Benefits for the Employer
- Three card types offer solutions for each cardholder’s different circumstances and requirements.
- As the employer, you can optionally brand the cards with your logo (volume dependent).
- Enjoy a reduction in operational and bank costs.
- Card and EFT payments can be processed from a single platform.
- No need to travel to visit a bank branch – accounts can be opened, and cards issued on-site to cardholders.
- Payments are not confined to banking hours.
- Pay funds into your employees’ account via your Internet banking channels or using the Paysoft EFT Credits system.
- No EFT rejection costs.
- Easy replacement of lost and stolen cards.
- Value Added Services:
- Airtime Purchases
Benefits for the Cardholder
- Instant access to funds.
- Security of card vs cash.
- No credit checks / FICA required for Disbursement Cards and Paysoft Lite options.
- Secondary cards for family members.
- Deposit funds via Internet banking, ABSA Bank branch, ABSA ATM, retailers (Lite & Plus).
- Withdraw cash at any Saswitch ATM, international ATM or retailer offering cash-back.
- SARS refunds and UIF payments can be paid directly into the account.
- Purchase at POS.
- Airtime purchases.
- PIN base card for security.
- International transaction allowed (Lite & Plus)
- Debit orders allowed on Paysoft Plus accounts.
- SMS notifications.
- 24/7 call centre.
Related Services
ID VERIFY
Our ID Verify service is able to confirm the validity of supplied names and national identification number combinations by checking against the South African Department of Home Affairs database. The service allows for single or batch look-ups and can be integrated into your own systems via our API.