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Payment Gateway Credit Cards

Payment Gateway Information

Payment Gateway Overview

The Forge Web Creations has created an excellent guide to South African Payment Gateways. This article will summarise the information found in that well put together payment gateway document.

There are two types of payment gateway providers in South Africa. Those that require you to register as an internet merchant with a South African Bank and those that do not.

Two types of Payment Gateways

 PayPal

The most well known global payment gateway. Since 2010, South African merchants have been able to use the service. FNB have a lock on smooth services with Paypal.

  • Setup Fee: R0
  • Monthly Subcription: R0
  • Transaction Fee: R3 ($0.30) + (2.4% to 3.9%)

 Pay4It

Pay4It, offer a more holistic eCommerce Solution, including hosting, development and design.

  • Setup Fee: R500 + VAT
  • Monthly Subscription: R250
  • Transaction Fee: 6%

 Sage Pay

Sage Pay transact directly with the big 4 banks. There is a gaurantee of service and payment clearance times. Sage pay is known for a quick turn around time. There services also include reporting and data validation web services.

  • Setup Fee: R425
  • Monthly Subscription: R190
  • Transaction Fee: 5% + R1.10

 MonsterPay

MonsterPay is the favoured choice for small businesses. Added services are anti-fraud, shopping cart and selling tools.

  • Setup Fee: R0
  • Monthly Subscription: R0
  • Transaction Fee: 4.5% + R2 (Credit Card)
  • SID Instant EFT: 2.9% + R2

 SID

The only instant EFT service in South Africa. SID payment is an assisted EFT for real time deposits. SID merchants save on banking fees.

  • Setup Fee: R0
  • Monthly Subscription: R250 to R900
  • Transaction Fee: 1.5% to 0%

 2Checkout

A payment gateway service with no waiting period and no term-based contracts. Easy to Integrate with existing Shopping Carts, with a range of account management tools.

  • Monthly Subscription: $11 (R110)
  • Transaction Fee: 5.5% + $0.45 (R4.5)

 PayFast

Payfast does not charge monthly fees. Only per-transaction fees. Geared towards South African merchants, payments immediately reflect. Pre-built modules to work with Magento, Opencart and Wordpress

  • Setup Fee: R0
  • Monthly Subscription: R0
  • Transaction Fee: 2.0% to 3.9%
  • Bank Account Payout: R8.77

 evriPay

evriPay does not charge monthly fees or set-up fees. evriPay is focused on small and new businesses.

  • Setup Fee: R0
  • Monthly Subscription: R0
  • Transaction Fee: 3.4% + R2.70

 Virtual Card Services

VCS works with the big 4 banks. The merchant must register as credit card merchant with their bank.

  • Setup Fee: R0
  • Monthly Subscription: R145
  • Transaction Fee: 0.5% + R0.50 ( Max R4 per transaction)

 Setcom

A merchant account is required to use Setcom as your payment gateway.

  • Setup Fee: R250
  • Monthly Subscription: R250
  • Transaction Fee: 0.65%

 Paygate

A merchant account is required to use Paygate as your payment gateway. Paygate has been around a long time and provides preofessional and an extensive range of features and services.

 iVeri

A Nedbank product which allows true multi-channel card payments. Mobile Point of Sale called pocketPOS. iVeri makes it easy for retailers to accept payments anywhere.

 MyGate

MyGate allows one point of contact for payments, collection and verification services. A registered Payment Service Provider (PSP) enabling merchants to accept credit card and pin-less debit cards. Features include: recurring billing, call centre, fraud prevention and business reporting services.

  • Setup Fee: R250
  • Monthly Subscription: R250
  • Transaction Fee: $1.80

 PayZA

Payza specialise in corporate disbursements, e-comemrce processing and remittances. A very versatile payment gateway.

  • Setup Fee: R0
  • Monthly Subscription: R0
  • Transaction Fee: 2.50% + R2.70

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