InterExchange offers customers with existing digital channels in South Africa to add e-commerce or online payment capability. Customers can use InterExchange to expand their digital channels and include monetary transactions (which are reconciled directly back to their financial systems). InterExchange provides a simple “out of the box” answer which is easily integrated into multi-disciplined environments.
InterExchange avails a host of different payment instruments, including South Africa’s four major banks and the Basic Accounting system. These interfaces are mature and have been utilised effectively since 2003.
Navigating the South African payments landscape is complex and has specific implications for Government. Interfile understands these challenges and offer this frequency product specifically to address the complexity and allow government to extend frictionless and modern payment mechanisms to the citizenry and to corporate South Africa.
- The real-time nature of the instruments dramatically improves customer service, reduce debtors' days and streamline accounting processes;
- High fidelity reconciliation across all payment types (card, EFT, Credit Push and Instructed Debit);
- Enhanced features payment arrangements, future dated payments and real-time remittance advice;
- Advanced preventative fraud controls;
- Granular reporting options and business activity monitoring.
InterExchange has been customised by numerous large enterprises and has processed in excess of a trillion Rand of reconciled transactions to date.