Several payment gateways operate in South Africa, each offering different transaction fees and services. Fees often vary based on the payment method used and the merchant’s monthly transaction volume. Here’s a list of some of the major payment gateways and their typical commission structures.
💳 PayFast
PayFast is one of South Africa’s most well-known payment gateways, offering a wide range of payment methods and a straightforward fee structure with no monthly or setup fees.
Credit & Cheque Cards: 3.2% + R2.00 per transaction
Instant EFT: 2.0% (minimum R2.00) per transaction
Other methods: Fees for other methods like Zapper, SnapScan, and Mobicred generally range from 3.2% to 5.5% + a fixed amount per transaction.
Payouts: An R8.70 fee is charged for each payout to your bank account.
📱 Yoco
Yoco is particularly popular for its card machines, but it also offers a full online payment gateway. Their fees are tiered, and businesses with higher transaction volumes get lower rates.
Local Bank Cards: Fees range from 2.70% down to 2.50% (ex. VAT) depending on your monthly transaction volume.
International Cards/AMEX: Fees range from 3.40% down to 3.00% (ex. VAT).
Yoco EFT: Fees range from 2.95% down to 2.00% (ex. VAT).
Online gateway: Yoco offers a simple online gateway with a flat rate of 2.95% (ex. VAT) for local transactions, with no recurring fees.
💸 Ozow
Ozow is a payment gateway that specializes in Instant EFT payments. They offer a unique pricing model with no fees for the first R1 million in transactions over the first 12 months for new merchants.
Instant EFT: Fees are tiered based on monthly transaction volume, ranging from 2.50% for volumes under R500,000 down to 1.50% for volumes over R10 million.
No Setup or Monthly Fees: Ozow prides itself on having no monthly subscriptions or activation fees.
Maintenance Fees: Some integrations (like Shopify or Xero) may incur a small maintenance fee.
🌐 Peach Payments
Peach Payments offers a variety of payment solutions, including online gateways and custom enterprise solutions.
Transaction Fees: A common fee structure for card payments is 2.95% + R1.50 per transaction.
Custom Rates: Like other providers, they also offer custom pricing for larger businesses.
💰 PayGate
PayGate is one of the more established payment gateways in South Africa. Their pricing can vary depending on the specific service and whether you have your own merchant account with a bank.
Online Gateway: Fees generally range from 0.25% to 3.5% depending on transaction volume and type.
Merchant Account Requirement: For many services, you will need a separate Internet Merchant Account from a South African bank, which can have its own fees.
🎯 Other Payment Gateways
SnapScan: A mobile QR code-based payment app with transaction fees starting at 3% (ex. VAT) and dropping to 2.6% for high-volume merchants.
Payflex: A “buy now, pay later” service. For merchants, there are no interest charges for customers, and the commission fee is a percentage of the purchase value.
Mobicred: An online credit facility with a commission rate for merchants of approximately 3.2%.
Zapper: Similar to SnapScan, this QR code payment app has a transaction fee of around 2.9%.