EFT

What is EFT?

EFT stands for Electronic Funds Transfer. This system moves money electronically between bank accounts. EFT serves as a digital alternative to paper checks. Canadian businesses use this method to handle direct debits through the local banking network. Use EFT to streamline your payment collection.

How does this payment gateway work?

Your customer selects EFT at checkout. They provide their banking information. The system sends a request to the bank to authorize the transfer. Funds move from the customer account to your merchant account. This process automates payment collection without manual work.

Supported Currencies and Countries 

The app supports Canadian Dollars. Customers with bank accounts in Canada use this payment method. You accept payments from any Canadian financial institution. You receive funds in your designated bank account once the clearing process completes. Target the Canadian market with this tool.

Why Shopify Merchants Should Accept EFT?

Accepting EFT reduces reliance on credit cards. You lower transaction fees. You eliminate the risk of credit card interest for your buyers. Many Canadian customers prefer direct bank transfers for large purchases. This option builds trust and provides a professional checkout experience.

Secure and Reliability

EFT uses encrypted banking protocols to protect sensitive data. The system verifies account details to prevent fraud. EFT provides a reliable record of every transfer for your accounting. Both you and your customers benefit from a stable and proven financial infrastructure.

Broader Market Reach

Offering local payment methods attracts more Canadian buyers to your store. Many shoppers do not have credit cards. Some shoppers prefer not to use credit cards online. You reach a larger demographic by providing a familiar bank transfer option. This strategy increases sales.

How to add EFT to your Shopify store? 

Integrating EFT into your Shopify store is quick and easy. Install the CartDNA app and enter your API credentials to activate the service. This integration increases customer satisfaction and improves conversion rates. You offer a secure payment option through a simple setup process.