Blog » We’re reducing our credit card processing fees!

We’re reducing our credit card processing fees!

Thats right, we’re dropping our fee for accepting credit card payments by over 20%! Starting next Monday (April 1st, 2013 *) all Visa and MasterCard payments through PayFast will now only be subject to a base fee of just 3.9%. **

Reduced credit card processing fees

For PayFast sellers who don’t currently accept credit cards, you can easily do so by verifying your account. For those who do, you don’t have to do anything, the rates will automatically get adjusted on your account starting next week. For those interested in selling (or getting paid for services) online, this is a great time to sign up. It’s free to do so, we’ve got world-class support and we integrate with over 30 shopping cart and online billing systems.

Happy selling!
The Team @ PayFast

* As crazy as this sounds (and despite the date) this really isn’t an April Fool’s joke. We don’t make jokes like that.
** The full, fine-print fee is 3.9% plus R2.00 and excludes VAT. Fees of high-volume merchants already lower than 3.9% will remain unchanged.

14 thoughts on “We’re reducing our credit card processing fees!”

  1. No website yet. How do I accept credit cards? I intend to sell stuff online and I was aiming to use Paypal, which now seems to be not the answer.

  2. Hey André,

    To accept credit cards, you need to sign up for PayFast and then verify your identity with us. This usually takes around 8 business hours (or less). You can log in to your account and send your customers an email payment request, after receiving the payment you can deliver/hand over the products.

    PayFast is an online solution however (card not present transactions), and not really built for traditional “offline” business. Most clients use us with one of the many supported shopping carts and then ship the items to their customers. The exception would be companies that invoice their customers (usually for services rendered).

    We’d be happy to hear if anyone uses us in other “offline” ways; please share with us!

  3. Hey Chris,

    We don’t do monthly subscription/recurring billing yet. You can have your system do a funds request from your customers every month (WHMCS has this feature).

    We’ll post updates here and in our newsletter when recurring billing is available.

    The Team @ PayFast

  4. I am in the process of setting up a website/webshop for a product range we are going to launch soon.Is it possible to change the business name and account @ a later stage should I wish to do so?
    Also can I receive overseas payments?

  5. You can register for an individual account (as a sole proprietor) if you don’t have a registered business (or plan on registering one in the future). You can set the trading name, logo and website URL to your current (or coming) website and verify your account with your personal documents.

    Should you become a registered business later, you can just change the account status to “business” (from “individual”) and send us the required business verification documents.
    You can always change the trading name, logo and website URL (regardless of business or individual account type), by logging in to your PayFast account and clicking on the Settings tab.

    Lastly, if you currently are registered with PayFast as a registered business (existing legal entity) and you are going to change it in the future to a new/different and separate legal entity, you should simply register for a separate PayFast account for the new business.

    Hope that helps! Give us a shout via our Support site if there’s anything else.

    The Team @ PayFast

  6. Oh, and yes, you can receive international payments via credit card. You’ll need to verify your account to accept these payments. Your account also has a feature where you can enable/disable cards from certain countries, should you wish to do so!

  7. Hi
    I organize trips to athletic events, like Comrades marathon, and this is a completely offline business. I have a set price and people give me cash, do deposits and ETFs. Since I don’t have the option on an online I want to be able to send a link to someone so that person can pay with a credit card a set amount. Do you have that as an option? Where I can enter an amount, and email address and just send it on?

  8. Hi Pierre,

    After registering to accept payments with PayFast and verifying your account with us, you’ll be able to send people payment requests. You only require their email address, a description and the amount (but it is cusomisable with optional extras like personal messages, invoice ID etc.) – our system sends them an email and they can click a link in that email and pay you via Instant EFT or credit card.

    More info here: https://www.payfast.co.za/blog/s/std/request-money

    Hope that helps!
    The Team @ PayFast

  9. Hey Deidre,

    We are interested in pursuing this at some stage, but it isn’t the highest item on our to-do list at the moment. It’s part of our long-term plan, however, and we’ll update here and through our newsletter if (rather: when) it happens.

    Warm regards,

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