InstaPay, a cutting-edge merchant application, has officially launched in South Africa, promising to revolutionize the payments landscape. This innovative solution offers unique functionality and competitive rates that surpass traditional card providers, setting a new standard in the industry.

Collaborative Development and Technology

InstaPay is a product of collaboration between Omnea and Amber Pay, two industry leaders dedicated to driving innovation in the payments sector. Enabled by Omnea’s API Integration Hub, a leading fintech enablement platform in Africa, and developed by global payment software specialist Amber Pay, InstaPay combines feature-rich functionality with a foundation of expertise and reliability.

Comprehensive Platform for Merchants

“InstaPay is not just another payment solution; it’s a comprehensive platform designed to meet the diverse needs of merchants of all sizes,” says Omnea CEO Deon Tromp. Merchants using InstaPay can access low rates, manage their business operations via an intuitive mobile application and web portal, and leverage instant settlements for real-time cash flow management. This includes paying suppliers, managing stock, processing payroll, and making individual or bulk payments, all in real time.

Digital Value-Added Services

Amber Pay CEO Ekaterina Savadia highlights the integration of digital value-added services: “As consumers increasingly adopt digital payment methods and online services, merchants who offer digital value-added services can stay relevant and meet evolving customer expectations. This alignment can also streamline operations and reduce costs associated with manual processes.”

Democratizing the Payment Industry

“InstaPay democratises the payment industry by providing small and medium-sized businesses with access to feature-rich services at rates usually reserved for their larger counterparts. This commitment to equality ensures that all merchants, regardless of size, benefit from high-quality services and support,” adds Savadia.

Digital Onboarding and Enhanced Customer Experience

Merchants can digitally onboard and start accepting payments in under 24 hours directly from their smartphones, ensuring minimal downtime for business operations. InstaPay also includes a consumer application that acts as a safe custody account for storing funds. Merchants can create instant offers for consumers through the in-app marketing tool, enhancing customer engagement.

Consumer Benefits

Consumers benefit from loyalty rewards and cashback from participating partners such as Checkers, Pick n Pay, and Shoprite when using the InstaPay application, which functions as a digital wallet.

In-Store and Online Payment Acceptance

InstaPay offers robust point-of-sale (POS) devices running on the same software as the smartphone application. These devices speed up payment transaction times, providing a fast and efficient in-store payment experience. InstaPay supports both in-store and online transactions, enabling merchants to accept secure online payments and ensuring comprehensive support for various business models. It also offers omnichannel capabilities, allowing merchants to manage their operations seamlessly across a wide range of platforms and devices.

Merchants can generate additional revenue by earning commissions on the sale of value-added services such as airtime and electricity sales.

Security and Compliance

InstaPay ensures robust security measures to protect user information and transactions, along with features that help merchants stay compliant with regulatory requirements. In today's complex threat landscape, advanced security is more critical than ever. InstaPay prioritizes advanced encryption and fraud detection while aligning with the Protection of Personal Information Act (Popia), ensuring that user data is handled with the highest standards of privacy and integrity. Compliance with Popia and other regulatory frameworks is vital for maintaining trust and avoiding legal repercussions.

Empowering Businesses

InstaPay aims to empower small businesses by offering them the same high-quality services and support that large enterprises enjoy, at a fraction of the cost. With state-of-the-art technology and a commitment to customer success, InstaPay is paving the way for a more inclusive and efficient payments ecosystem in South Africa.