Response to the merchant if their transactions are in this scenario as mentioned in the header of this article:
1) When a customers EFT Secure payment fails due to an intermittent downtime, failure to connect or delayed response from the acquirer
In these instances, we have noted that the banks replicate the beneficiaries' information (Bank details) in the user's profile which they can use to do a direct EFT payment.
In the banks' view, this is beneficial to their customer (who intends making the payment) the business (who intends receiving the payment) and themselves i.e. the transaction is successful and will avoid a query regarding a failed payment, from their customer
From Peach Payments side, we have the ability (provided by both EFT secure ) to deactivate this ability by "hiding" the banking details and not allowing the bank to force create a beneficiary within their systems.]
Where we have encountered a problem more recently is specifically with Capitec and FNB who override our settings, in their customer interest.
2) Current solutions:
We have merchants who have disabled these banks i.e. they do not reflect as an option to make a payment - in our view, the merchant then risks losing more business than the few that go astray into the bank account directly
Continue as is - will have to check bank statements in a query is received
3) What are we doing?
We are engaging the banks in this regard, to encourage them to accept our "restrictions" understanding that their activity is resulting in issues down the line. The narrative here is challenging as they need to spend time and money to make the necessary changes that do not benefit them directly.
This has been ongoing for some time and we will continue our efforts to have this resolved, however, do not see a short term solution in the near future.