Peach payments also enables businesses to make bulk EFT payments to suppliers, partners, employees or even customers who paid via EFT and need to be refunded. More on Payouts here
We can do same day settlements into all banks in South Africa (EFT to bank account) so what you would be able to do is submit batch payment requests to us to pay your suppliers / employees / etc.
- Via API – your system automatically submits a batch to us for the payouts (API spec attached)
OR – Via CSV file upload – you upload a batch file to peachpay.co.za for the payouts
- Step 2 – you transfer the total funds to be distributed, to our Nedbank Payout Account (This needs to be in our bank account before the platform can release the funds. Please factor in bank clearing time)
- If you complete the above by 12.30 PM then:
- 3 pm we execute the batch
- 8 pm onwards your recipients have funds in their accounts
- Unpaids – payments returned by banks of reasons such as Account Frozen / No Account exists etc.
- If you submit via API – you will receive callback via API for unpaids
- You can also view the unpaids in our console
- We will refund the funds to you on a weekly basis (every Friday currently)