SID Instant EFT

Overview

Setcom (Pty) Ltd, founded in 1998, owns and manages the company. Setcom has rich experience in the payment processing industry on the Internet. It understands deeply what makes a completely secure and flexible transaction experience. Setcom has put together a very good reputation, in part through the payment processing engine it has developed, which runs under the name of SID. Moreover, the user interface of SID is very efficient.

SID Instant EFT began in 2007. Its one goal was to provide the public with a payment mechanism that was secure and operable in real time—"as in right now"—and that would work online with a variety of vendors engaged in e-commerce. These weren't just the usual suspects of virtual storefronts; some of these less typical sites of e-commerce were virtual casinos. From the start, SID aimed to facilitate all kinds of purchases and to allow all kinds of moments of selling to truly be "as in right now."

Why South African online casino players prefer SID Instant EFT:

Cash is king. Even in today's digital world, where almost everything is paid for online, some people just don't use or can't get a credit card. Secure and easy cash payments are still possible, though, thanks to SID, a service that allows you to pay like with cash, even when you're actually not using cash.

Effortless payment process. SID pays without no need of filling up payment forms. This makes payment happen and it does so without issuing commands first. Payment happens and it happens effortlessly and automatically. You can stop worrying that you might fill in the wrong payment form and cause some mishap in getting the correct amount to the grace college with the SID.

Mobile capability is complete with SID. SID functions with almost all mobile apparatuses on the market. This translates to players being able to fund their online casino accounts from far and wide, with even more players' hands and pockets than before.

It is not compulsory for players to register. SID enables players to make payments straight from their online banking service without needing to go through a registration or approval process.

Payments made by gamers are instantly recognized. iGaming operators immediately acknowledge receipt of payments from gamers without the need for them to laboriously prove that payments were actually made. Operators grant instant access to their gaming platforms upon receipt of said payments.

Using SID Instant EFT in South Africa

Secure ID is backed by numerous ecommerce retailers across South Africa and even online casinos that operate both in the country and worldwide. And if you're at those sites and trying to use your SID account to make a deposit (or if you're trying to use your bank account to make a withdrawal from an online casino), here are the steps you ought to know for doing so: 1. Visit the website of the online casino or e-commerce merchant you wish to deposit money with. Begin the depositing process, letting the institution direct you through perhaps-required steps. 3. Use your SID or bank account (if you're withdrawing) to finish the transaction.

1. SID is a way for gamers to pay from the virtual casino of their liking. In this way, SID serves an identical function to that of a current account. With real-time online banking services, the required payments are executed instantaneously. Thus, in terms of the virtual gambling world, SID is employed as an identical tool to that of a virtual current account.
2. SID directs gamers to their secure internet banking service.
3. The payment details are filled in by SID.
4. The players are directed back by the online casino site.
5. Payment from the player confirmed received immediately.

Instant EFT by SID functions equally well on mobile devices as it does on computers. This makes it a particularly suitable option for South Africa, where as many as one in four online customers prefers to transact via mobile means.

How to Fund Your SID Instant EFT Account

A banking account may be tied to one or several SIDs. Those accounts may draw funds from the SID to make payments. When the SID performs any payment transaction requested by the user, for example, when the user makes a deposit at an online casino, a banking account specified by the user funds the transaction.

Players wishing to use SID at an online casino must first run the SID application the very first time they want to use SID. When this is done, the player wishing to use SID at an online casino must next select SID as their payment option. At this point, using SID requires only that the online casino have and use what it would have and use in a normal transaction with a player who has a bank account. Using SID does not require that the player provide any proof to the online casino that funds have been sent.

How to Deposit Using SID Instant EFT

South African players can make direct deposits into their online casino accounts via SID Instant EFT. Generally, the online casino will not require any banking or payment information from the player, as SID will provide these details automatically.

Depositing funds into an online casino account via SID Instant EFT usually entails five steps:

1. Select SID for making payments at the online casino.
2. Any information must be accessible to SID or to any other party.
3. This is your opportunity to select which of your accounts linked to SID will be used to withdraw the funds. If more than one account is linked, you'll need to make a selection; if only one account is linked, it will obviously be the account used. Once your account is selected, the next screen will indicate that you have successfully created an automatic withdrawal.
4. Complete the payment process by entering the one-time PIN your bank sent you. You can also respond with a push notification your bank sent you.

When you complete your payment, you will be sent back to the online casino where you were playing. In most cases, this casino will receive almost instantly a confirmation of your payment, and you should not have to send, via fax or email, any proof of payment.

How to Withdraw Using SID Instant EFT

Using SID is not restricted to simply putting money into an online casino. Players can also use SID to take out their winnings and any bonus cash that the casino may have given them. Casinos online that back SID Instant EFT offer an option to withdraw funds through SID directly into your bank account. Like with the two-day processing time when using SID to deposit money, the same holds true for when a player uses SID to withdraw funds to their bank account.

SID Instant EFT Costs and Timing

SID offers South Africa's cheapest instant EFT transaction fees. Actually, it is virtually the sole service that doesn't hit you with hefty charges for Internet merchant transactions. SID accounts offer great pricing at R250 per month, with only a one-time setup payment of R250. Notably, when you make a transaction, SID only charges 1.5% per transaction. This is a very competitive rate compared to what most banks charge.

To activate and implement the e-commerce service of SID, the user must pay a one-time set-up fee. A monthly subscription fee is also required, but this too is a one-time payment made in advance. Most importantly, however, is that when a typical transaction occurs via SID, it is done so with no additional cost to the merchant or the banks involved; the transaction is totally "fee-free." Also, there's no cost to SID itself. That, in a nutshell, is the performance profile of the service.