South African payment gateway fee questions
These answers describe the five gateways in the payments comparison. The ranking changes with your turnover, average order, card or Instant EFT, and payout frequency.
Which payment gateway is cheapest in South Africa?
There is no single cheapest gateway for every store. RandRank ranks Paystack, Yoco, Payfast, Ozow, and Peach Payments from the monthly fee for the turnover, average order, payment type, and payout frequency you enter.
Do the listed rates include VAT?
Paystack, Yoco, Payfast, and Peach Payments quote prices excluding VAT, and the calculator adds 15%. Ozow’s pricing page does not say whether VAT is included, so the calculator does not add VAT on top of Ozow.
What is included in the monthly fee?
The monthly figure is the transaction fees for the payment type you selected, plus payout fees for daily, weekly, or monthly settlement. It leaves out the other payment type and any rate negotiated below the published price. The result also shows what you keep: turnover minus that fee.
Why does Yoco use 2.95%?
Yoco publishes an online rate from 2.55% to 2.95%, excluding VAT, with no monthly fee and no fixed rand fee. The calculator uses 2.95%, the top of that range, so a store is not ranked on a rate it has not been given.
Which Peach Payments plan is used?
The site uses Peach Growth, the SME plan: 2.95% plus R1.50 per local card transaction, excluding VAT, with no monthly fee. The older 2.5% and R300 monthly figure does not match that plan. Enterprise pricing is negotiated.