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.

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.

Monster’Pay does not charge its clients any fees to open an account, to purchase is easy via the web or mobile or send money to more than 210 countries. The Payment Gateway service accept Rand and US Dollar credit cards. Instant EFT via SID and direct deposits are also provided for Rand. This Payment Gateway is unique no other payment gateway can provide Instant EFT facilities. Sending payments and adding funds are both free, to receive payments funded by Credit Card or Debit Card costs 4.9% of the transaction, plus $0.35USD for US Dollars, and 4.9% of the transaction, plus R2,50 for South African Rands.

One of the best alternative payment gateways is PayFast and they offer EFT and Credit Card transaction integration.

A new South African payment gateway that started resently is PayU.

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.

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