How does Peach payouts work ?

Peach payments also enables businesses to make bulk EFT payments to suppliers, partners, employees or customers who paid for goods and services via EFT, and need to be refunded. More on Payouts here
We can do same day settlements into all banks in South Africa (EFT to bank account) so what you would be able to do is submit batch payment requests to us to pay your suppliers / employees / etc.

2 steps to make payouts

Upload payment details

Step 1 - Upload payment details via API – your system automatically submits a batch to us for the payouts (API spec attached)
– Via CSV file upload – you upload a batch file to for the payouts

Fund wallet / account / float

Step 2 – you transfer the total funds to be distributed, to our Nedbank Payout Account (This needs to be in our bank account before the platform can release the funds. Please factor in some time for interbank clearing)

See more on Peach Payouts with float management here 

Important notes

  1. If you complete the above by 12.30 PM then:
    1. 3 pm we execute the batch
    2. 8 pm onwards your recipients have funds in their accounts
  2. Unpaids – payments returned by banks for reasons such as Account Frozen / No Account exists etc.
    1. If you submit via API – you will receive callback via API for unpaids
    2. You can also view the unpaids in our console
  3. We will refund the funds to you on a weekly basis (every Friday currently)
We will charge you a flat fee of ZAR 2.80 +VAT per payment made (I.e. Per individual payment)
Have more questions? Submit a request


Powered by Zendesk