How it works
From Voucher Issuance to Merchant Settlement – End to End
The E Pay payment flow is a closed-loop system. Every rand that enters the network is prefunded, every transaction is validated in real time, and every settlement is traceable from the moment of issuance to the moment of redemption.
A simple view of how transactions move through the Vertex ecosystem.
Voucher Funding
A voucher is issued to a customer via cash, EFT, card payment through Netcash, or a transfer from an existing EPay wallet. The voucher is pre-funded - no credit is extended.
Redemption at point of sale
The customer presents their voucher code, NFC wristband, or QR code at the merchant's point of sale. The merchant enters or scans the identifier.
Real-time Validation
The EPay platform validates the voucher - confirming it is active, has sufficient balance, has not been previously redeemed and is eligible for use at that merchant.
Instant Settlement
On validation, the transaction amount is deducted from the voucher and credited to the merchant's EPay wallet in real time. No batching, no delays.
Merchant cash-out
The merchant withdraws their balance via EFT to their bank account, uses it to pay suppliers within the EPay ecosystem, or holds it in their wallet for reconciliation.
Online / E-Commerce Checkout
- Step 1 – Payment method selection: At checkout on a Netcash-integrated store, the customer selects EPay Voucher as their payment method.
- Step 2 – Code entry: The customer enters their unique voucher code. No card details, no OTP, no banking app required.
- Step 3 – Gateway validation: The voucher is validated through the EPay API in real time. The Netcash gateway receives confirmation and marks the transaction as complete.
- Step 4 – Settlement: Funds are credited to the merchant’s account through the same real time settlement process as in-store transactions.
There is no card networks involved, no interchange fees, and no settlement delays. Every transaction is visible in the merchant dashboard the moment it occurs.