Alternative Payment Gateways

Whether you are sending or receiving money or paying for online transactions PayPal always comes at the top of the list of online processors. But it is not the only option for online transactional dealings.

Since March 25 2010 PayPal has entered the South African market and closed a partnership with FNB bank for South Africans wanting to do international online e-commerce, you need to open a FNB account. The downside is that you cannot charge in Rands only in US Dollars. This is a real disadvantage if your target market is South Africans because they don’t all have PayPal accounts and it will seem strange if your domain charge in USD Dollars but if you trade international then it will not be an disadvantage.

PayU South Africa is a e-commerce payment gateway that enables you to securely accept credit card payments on your online store.
PayU makes up the e-payments division of Naspers Ltd. a broad-based, multi-national media group founded in 1915, which provides services in more than 133 countries.
Naspers primarily operates in Internet services, especially ecommerce, pay television and print media and is listed on both the Johannesburg and London Stock Exchangesds.

One of the best alternative payment gateways is PayFast and they offer EFT and Credit/Debit Card transaction integration. PayFast offer no setup fees or monthly fees, and only 2.0% per transaction + R2.00 for debit or credit cards.

Paygate provides various payment gateway options for Mastercard, Visa, American Express, and Diners Club. PayGate has a number of options including Payweb which easily adds payment functionality to your website via a transferal to their payment page, PayXML which allows more integration options so you can host the payment page on your own website, and Paybill which allows customers to offer the functionality to pay any bill online.

MyGate offer 3 main pricing tiers which have varying monthly costs, and transaction fees which can be chosen based on the number of transactions through your store.

SID is a Setcom product that provides an instant EFT payment service, that allows a customer to make a payment directly to the merchant using a version of their online banking service, with deposits made in real time.

Virtual Card Services (VCS) VCS charges R 285.00 setup, R0.57 per transaction for authorisation, and R0.57 + 0.5% of the transaction for settlements. The monthly fee is R 165.30, and bulk discounts are available based on the number of transactions

2Checkout is an excellent alternative 2CO is another intelligent choice if you want to get rid of PayPal complications. It involves no credit card processing, no statement fee, no third party charges, no monthly fee, no additional card company etc. It takes few minutes to complete the account setup process as no credit check is involved in it. It charges a $49 USD setup fee only once off. Moreover you have to pay 5.5% commission plus $0.45 per transaction. You will also receive a Master Debit card for free and be able to draw your money at a local ATM in South Africa. 2CO is an Payment Gateway for South Africans, the choice for small businesses, it does not require a merchant account.

What is an Merchant Account?
A Merchant Account is an solution established by a bank which enables a company or individual to route money from credit card sales to an account which holds it before transferring it to the business or individuals own account. South Africa’s top four banks (Standard Bank, Nedbank, ABSA and FNB) all offer Internet Merchant Accounts. A merchant can therefore apply for an Internet Merchant Account directly with their bank.

Do I need a Merchant Account to use a Payment Gateway:
No you do not need to be a registered merchant with a bank to use a Payment Gateway.

What is the advantage of an internet merchant account?
You would pay less transaction fees but because you need to pay your bank a monthly fee, it would only be advisable on large amounts of sales per month.

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Mobile Payment Gateways:

Allow the client to pay via their mobile/cell phone, mobicred is a simple & convenient credit facility that allows a cellphone to safely shop online or make payments.

We integrate Mobicred or Snapscan into an ecommerce solution, mobicred is a simple & convenient credit facility that allows your users to safely shop online with our participating retailers.

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