KongaPay is the result of a partnership with banks in Nigeria, which will make it possible for their customers to link their Konga accounts directly to their bank accounts, techcabal.com reports. The integration of KongaPay will work regardless whether its customers have internet banking-enabled on their accounts or not.
In 2014, Konga first announced a payment feature that would let GTBank customers pay for their purchases via a bank transfer that would be initiated from right inside the Konga.com checkout cart. If a user selects to pay via GTBank, they are redirected to the bank’s internet banking portal which, on the user’s login, populates the forms with the amounts due. Once the transfer is made, the customer is sent back to Konga.com, completing the purchase.
After a one time integration, all a customer with a linked bank account need do is click the checkout button and enter a one-time password. KongaPay also has an escrow-like feature which allows them offer a guarantee to refund the total purchase sum for any unsatisfactory products. Because the transfers will be happening between Konga’s bank account and the buyer’s bank account in the same bank, these reversals can be effected near-instantaneously.
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