Knowledgebase: Receiving Payments
Collection & payout process
Posted by Greg S on 20 Sep 2012 16:36

PayFast is all about speeding up the transaction from the buyer's point of view by being a trusted 3rd party and providing you, the merchant, with positive acknowledgement of funds received by a number of different payment methods.

This does not mean, however that the funds clear into your bank account quickly.

The idea with PayFast is that we collect multiple payments on your behalf which accrue immediately to your PayFast account and from there you request a Payout on a regular basis (Weekly, monthly etc.). 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.