About Payfast
Payfast is a payment processing platform from Payfast that enables businesses to accept online payments efficiently. It provides functionality for credit card processing, bank transfers, and mobile payments so merchants can cater to a variety of customer preferences. The platform supports transactions in multiple currencies and offers integration with various e-commerce platforms. This flexibility allows businesses to reach a broader audience. Additionally, Payfast includes features like automated invoicing and fraud protection to improve security and usability. Key capabilities: payment gateway recurring billing integration options reporting tools customer support Best for: e-commerce businesses that need a reliable solution for processing online payments.
Payfast Details
Payfast's In-App Market Place
Does Payfast have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
ZAR
Pros & Cons
- Start accepting payments within 24 hours with no upfront costs.
- One of the most recognized payment brands in South Africa, increasing customer checkout confidence.
- Access to the "unbanked" or "credit-averse" market through SCode (retail cash) and Instant EFT.
- At 3.5% + R2.00, it can be more expensive than merchant bank accounts for high-volume retailers.
- While it accepts international cards, all funds are converted and settled in South African Rand (ZAR).
- While "on-request" is fast, there is still a mandatory holding period that can affect very tight cash-flow businesses.