PayFast doesn’t charge any setup or monthly fees. Making payments is free, but we charge a fee for receiving payments. When you request money to be sent from your PayFast account to your bank account, we also charge a Payout fee. You don’t require a merchant account with your bank to use PayFast.
|Description||Fee (excl. VAT)|
|Payout fee to bank account||R 8.77|
|Instant EFT||2.0% (minimum R2.00)|
|Credit & cheque cards||3.5% (plus R2.00) (promotional rate)|
|MasterPass||3.5% (plus R2.00) (promotional rate)|
|Debit cards||3.5% (plus R2.00) (promotional rate)|
The more you sell, the more you save
Promotion Terms and Conditions:
- The variable portion of PayFast card fees, including payments made with MasterPass, credit, cheque and debit cards, have been reduced to 3.5% from 21 June 2017 to 31 December 2017.
- The fee reduction is applicable to all merchant accounts that were registered before the 10 year birthday promotion start date, as well as to new merchant accounts that are registered during the promotion period.
- The fee reduction is valid until midnight 31 December 2017 only.
- PayFast may at their discretion reinstate the original fee of 3.9% from 1 January 2018 across all merchant accounts that had been affected by the promotional fee reduction.
- The fixed fee of R2.00 per card transaction will remain unchanged during the promotion period.
- Negotiated card fees for merchant accounts already below the promotion fee rate will remain unchanged during and after the 10 year birthday promotion.