EFT Corporation Ltd supports the Electronic Funds Technology subsidiaries in the group. EFT is a special purpose enterprise committed to providing state of the art Electronic Funds Technology solutions using its exceptional base of experience and skill, to the African Financial and Retail Markets. Their business model is based on software (Postilion) licensing and maintenance, reselling Hypercom POS devices, Futurex HSMs, Stratus ftServers or any other third party product needed to provide a switching / EFT solution to the client.
EFT Corp also have their own developed products on sale. Providing/delivering these solutions is based on the project, so the business model will also include service fees for project management, technical consultation and support, implementation costs, customised development, training, etc. The business model for the switches is based on a joining fee, monthly service fees and then the main and lucrative draw card for any switching business is its transaction fee.
Products and Services
EFT Corp business is based on selling products and services related to delivering EFT and payment solutions. Product categories include:
- Retail solutions
- Agency Banking
- Card management
- Bulk Payment Solutions
- Webservices API
- Mobile POS
- Fraud Prevention
- Bespoke Software Solutions
The products are then split into two groups, namely; third-party products and in-house developed products. EFT Corp focuses on four third-party products, namely; Postilion (EFT software / solutions), Hypercom (POS devices), Futurex (HSM – Hardware Security Modules) and Stratus (FtServer – hardware). Pending the clients’ actual requirements, EFT Corp on occasions will also sell other third party products as long as it is part of their core business and is related to delivering the required EFT solution.
EFT Corporation offers end-to-end hosted solutions for seamless electronic payments and POS solutions in a certified and secure environment. These services include:
- POS Acquiring
- Multi-Lane integrated POS
- Hosted Card Issuance
- Terminal Management
- Secure Key Loading via PCI Trusted Centre
- Terminal Repair Centre
- Fraud (Proactive Risk Manager)
- Support Services
- PCI Certification
- Hardware/ Terminal repair centre
- Secure key injection facility
- POS acquiring and application development
- Electronic voucher dispensing solution
EFT Services is also gaining PCI DSS compliance for its POS systems, online shopping carts and wireless access routers, all in accordance with the PCI Security Standards Council, for data and network protection purposes.