How Nedbank’s digital payment solutions can benefit you

Nedbank Business Banking’s remote, digital and mobile payment solutions offer businesses valuable customer insights, while ensuring customers can connect and pay easily, quickly and without physical contact.

Digital payment solutions are now the first choice for most businesses and, where there is no physical contact, the only choice. 

An effective digital payment solution has to be efficient, easy to use and sustainable. The good ones offer more. They track choices and preferences, allow for real-time online updates and offer a variety of information that businesses can use to improve their products, services and customer interactions. 

In addition to using Nedbank Business Banking’s digital solutions to receive payments for their services and products, businesses can also use payment information to analyse their customers’ behaviour. For customers it’s an easy way to pay; for businesses it’s a way to use existing information to learn more about customers so they can do more and better business. 

Get the basics right

The basics of a digital payment solution are security and availability, and getting it right is critical. 

Security is a non-negotiable feature of Nedbank Business Banking’s payment solutions. Mobile solutions, for example, offer encrypted, safe banking with an advanced security system that has multiple protection features so transactions can be securely processed.

To further reduce the risk of fraud and cybercrime, Nedbank offers the account verification service, which a business can use to verify a bank account before making a payment or collecting a debit order. Businesses can also customise notifications to ensure others are aware of any payments and changes to their bank account details.

E-commerce businesses that sell directly via their websites can use Nedbank Business Banking’s secure payment management system, which automatically manages certificates and the 3D Secure process.

Transactions can be processed instantly from any computer or phone, and businesses maintain complete control of the payment process.

Businesses that allow customers to deposit funds into their bank account via electronic funds transfers (EFTs) can preload their banking details on Nedbank’s electronic banking platform to make it easy to find the business and to prevent incorrect bank account numbers being used. 

Use big data to analyse and grow business

Digital payment solutions make it easy to do business more efficiently, with more customers, in more locations. Every digital transaction holds valuable information about a customer. Businesses can use this information to grow. 

Nedbank Business Banking offers business owners three unique solutions to help them understand their businesses better so they can grow in the future: Final Transaction Information, Provisional Transaction Information, and Market Edge. 

Final Transaction Information gives businesses a view of confirmed final transactions processed through their account. This information can be sent directly to line-of-business systems or e-mailed, and can be used to automate daily reconciliations. Security is ensured with a host connectivity protocol or encrypted e-mail.

Provisional Transaction Information gives businesses a view of transactions processed through their bank account at intervals during the day. This information can be used to release goods as soon as payment is made, enabling businesses to improve customer experience and fast-track delivery. 

Nedbank Market Edge is a web-based tool that allows businesses to understand their customers more. The system is built on actual cardholder customer data and is designed to give businesses in-depth knowledge of their target markets that competitors don't have.

Nedbank Market Edge pulls all data that is gathered from card transactions together. The data is packaged in a web-based tool that can be viewed and customised on a multilayered, real-time and user-friendly dashboard. Businesses will learn more about customers — what, when and where they buy. This means future business services and products can be designed and marketed to customers when and where they need them. 

Pay staff anywhere, any time, with mobile wallet solutions 

Nedbank Business Banking clients can use the bank’s mobile wallet solutions to pay staff who don’t have bank accounts. Staff need a valid SA identity number and cellphone to receive payments. Recipients can send money, make payments or draw cash at a Nedbank ATM. The wallets are easy to open as no paperwork is required. 

The right digital solution can be the difference between success and failure. Digital solutions mean businesses can stay open longer and operate in different business environments. Digital solutions also provide a wealth of information that businesses can use to manage their services better, ensuring customer needs are met and new markets identified. 

Nedbank Business Banking’s digital solutions can be tailored to each business’s needs and circumstances, as they are designed to offer insights so the business can grow. 

Visit Nedbank Business Banking for more information. 

This article was paid for by Nedbank.