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'We're ready and able to deal with increased online payments on Black Friday'

27 November 2019 1:09 PM
Tags:
Black Friday
Black Friday deals South Africa
PayFast

PayFast MD Jonathan Smit says the spread of technologies available should help mitigate risk of compromising payment systems.

Less than 48 hours to go till you can hit that special Black Friday deal you've been eyeing online, starting from midnight on Thursday.

RELATED: 5 things to keep in mind before blowing your money on Black Friday

Year after year there are reports of websites crashing or delays in the online verification process due to the sheer volume of people trying to transact.

However, the managing director of online payment gateway PayFast says consumers should not be too concerned as the current spread of available payment technologies should help mitigate the problem.

Jonathan Smit says they've already seen a massive increase in volumes this week, which is set to continue into next week.

The larger retailers have actually started some of their deals this week already because it was pay day on Monday.

Jonathan Smit, Managing director - PayFast

We're expecting to see big volumes this whole week - Friday, Saturday, Monday and Tuesday next week, but obviously the biggest one that is very much on everyone's mind is Black Friday itself.

Jonathan Smit, Managing director - PayFast

Smit says the security of online transactions is not affected by increased volume, it's more a question of sheer capacity.

What it boils down to is having enough processing power in your systems, having the necessary resources,

Jonathan Smit, Managing director - PayFast

He notes that problems in the past were often connected to banks and the sms authentification system, but now some do offer a range of options like in-app authentification.

One would hope that with that spread of technologies one won't see that concentration risk as much over this period but even if you do, there should be another way to pay, the most prevalent being the instant EFT payment mechanism.

Jonathan Smit, Managing director - PayFast

Listen to the conversation with Smit in the audio below:


27 November 2019 1:09 PM
Tags:
Black Friday
Black Friday deals South Africa
PayFast

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