We offer a variety of payment methods through the familiar and trusted PayFast interface. We process MasterCard and Visa credit cards, Instant EFT (with SA’s four biggest banks), Masterpass, credit facility mobicred and digital payment method Bitcoin.
Credit cards are well known and a de facto online payment method the world round. We process local and international credit cards and cheque cards, with a variety of fraud protection mechanisms in place to protect sellers against costly chargebacks. Learn more.
Instant EFT enables buyers to make payments with traditional internet banking with SA’s four biggest banks. The electronic funds transfer (EFT) gets verified instantly. No two day waiting period, no proof of payment required and no disclosing of financial information. Learn more.
Bitcoin is an innovative digital payment method, performed over a peer-to-peer network. Sellers can now receive payment from buyers who hold Bitcoin. The seller receives payment in South African rand; the buyer simply transacts at the current rate of exchange. Learn more.
mobicred is an online account that gives buyers access to credit, which they can use on PayFast. The facility works in a similar fashion to retail store credit: only online. Sellers can choose to enable/disable mobicred on their PayFast accounts and there is no risk of default or repudiation to them. Learn more.
PayD allows you to accept payment from debit card holders. Buyers enter their debit card and mobile phone number and then authenticate the transaction on their phone. The system works with devices on the Vodacom or MTN network and with debit cards issued by Absa, Nedbank and Standard Bank. Learn more.
Masterpass is a simple, convenient, trusted digital wallet from MasterCard for faster, safer shopping at online merchants. A digital wallet makes online shopping safer and easy by storing payment information in one secure place. Learn more.
You simply need to register for a free PayFast account and upload some verification documents to your account.
This depends on the merchant and industry, but overall the majority of transactions happen via credit card (70-75%) and Instant EFT (30-35%). Around 1% of payments are made using the alternative payment methods combined. We continuously integrate with new payment methods, to enable buyers to pay in whichever way they feel comfortable.
If you have verified your account by uploading the required documents, you’ll be able to enable and disable the various payment methods. Some payment methods (like mobicred) can only be enabled after applying for a mobicred account, which you can do right from your PayFast account.