How does PayFast work in South Africa?

PayFast is a leading online payment processing solution for individuals, NPOs and businesses of all sizes in South Africa. … Our business model is based on the success of our merchants – we only charge a small fee for every payment successfully processed; we have no setup, monthly or hidden fees.

How do I pay with PayFast?

Payment Request

  1. Log in to your account or register for one if you’re new to PayFast.
  2. On your Dashboard under ‘Manage’ select ‘Send Payment Request’.
  3. You will be taken to a form where you can enter the buyers email, payment amount and any other required information.
  4. Click ‘Send Request’.

What is PayFast method?

PayFast allows merchants (individuals, businesses and charities) to accept secure payments from online buyers by offering a variety of payment methods, including credit card, Instant EFT, Masterpass, mobicred, SCode and debit card. …

How much does PayFast cost?

You only pay per transaction, no setup or monthly fees

Payment Method Fees (excl VAT)
Credit and Cheque Card The world’s most popular online payment method. 3.5% plus R 2.00
Debit Card A popular payment option for many South African shoppers. 3.5% plus R 2.00
Mobicred An online account that gives buyers access to credit. 3.5%
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Is PayFast a bank account?

No, your PayFast account is not a bank account. It is electronic money stored in an online stored-value account.

Is PayFast instant EFT?

Instant EFT by PayFast allows online shoppers with access to internet banking to make an Electronic Funds Transfer (EFT) that gets instantly verified.

What is the best payment method?

10 Online Payment Methods to Consider

  • Paypal. Paypal is one of the biggest and most familiar of all the online payment options. …
  • Amazon Pay. …
  • Google Pay. …
  • American Express. …
  • Apple Pay. …
  • Stripe. …
  • Square. …
  • Visa Checkout.

16.01.2019

Is PayFast safe?

Absolutely! And often more so than many other payment methods! PayFast is PCI DSS Level 1 Service Provider (the highest level).

Is PayFast the same as PayPal?

South Africa finally has its own online PayPal-like service for providing online shoppers with a safe credit card-like experience for making payment using Internet banking (EFT).

Does Takealot use PayFast?

Yes, Takealot has two Instant EFT payment options via payment partners Ozow and PayFast.

Is PayFast only for South Africa?

PayFast is a leading online payment processing solution for individuals, NPOs and businesses of all sizes in South Africa. … Our business model is based on the success of our merchants – we only charge a small fee for every payment successfully processed; we have no setup, monthly or hidden fees.

How do I withdraw money from PayFast?

In order to payout the funds in your PayFast account you will have to enter your banking details for your account on the Account page and then request a Payout. We will then process a payout to your account. Please note that there is a fee for processing a payout.

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How do I reverse a PayFast payment?

Refund your customers through the PayFast dashboard

  1. Log in to your account or register for one if you’re new to PayFast.
  2. From the Transactions drop-down menu select ‘History’.
  3. Locate the purchase transaction to be refunded and select the refund icon in the far right column.

What is the best payment gateway in South Africa?

10 Best Payment Gateways in South Africa

  • ✔️Paygate.
  • ✔️MoneyMatrix.
  • ✔️Yoco.
  • PayFast.
  • Netcash.
  • Peach Payments.
  • SnapScan.
  • PayU.

20.04.2021

How long does PayFast take to payout?

You can set up scheduled payouts on your PayFast account so that your funds are paid out to your bank account automatically on scheduled basis. Each payment received is subject to a 48 – 72 hour holding period after which it is eligible for payout and payouts take approx. 2 working days to appear in your bank account.

Hai Afrika!