Here is a comparison of the different merchant account options, for card payments acceptance.


Please be aware that these pricing details are generic and do not reflect all Peach payments products. The best way to get pricing information that is most relevant to you is to contact us at sales@peachpayments.com for tailored quote, based on your business needs.


You can have your business bank account at any South African bank. The merchant account is a processing agreement with the an acquiring bank, that enables you to collect card payments from your customers.



The key differences between the merchant account options are with respect to :


1. Frequency of settlement

2. Lead time to get setup

3. Payment brands that your customers' can pay with (eg. VISA, MASTERCARD, etc)

4. General pricing


Standard Pricing


**NB: All fees exclude VAT**

 

 

Peach 

Nedbank Merchant Account 

Merchant Account

Once-off Setup Fee

R250

R250

Peach Monthly Service Fee

R199

R300 p/m

Monthly Licensing Fee

Included

R150 p/m

Processing Fee (Per transaction)* 

R1.50

R1.50

Tokenisation/Card Storage **(Optional)

*R200 p/m 

*R200 p/m

Refunds (Per refund/reversal)

R1.50

R3.00

Special Transactions - per Transaction
R3.00
R3.00

(Optional) Card Storage – (initial transaction) 

R3.00

R3.00

Commission Fees: Visa / Mastercard

3.50% blended

3.50%*/2.75%

(Credit/Debit)

Decreases as your sales volume increases (see attached for tiered rates)

Contract Period 

Cancel anytime 

              Cancel anytime

Settlement Cycles

Weekly

Daily

Setup / Lead Time

3-5 working days

10-14working days

Foreign Cards Acceptance 

Yes

Yes

Multi-Currency Processing***

No

No

Card Acceptance Options

Visa/Mastercard ONLY

Visa/Master/Amex/Diners


*Processing Fees:(i.e. Debits)– per transaction costs will drop with more transactions that you do with us –please refer the attached brochure.Special Transactions:Card Storage, per card stored, once off, for the lifetime use of that card.


**Tokenisation: You will need this, should you wish to make use of Card Storage (for future purchases) or for 1-Click Checkout, Subscription or Recurring Billing within your payment model *(i.e. Card Storage)– Once off charge, per card stored - for the lifetime value of that cards use (Please refer to attached Brochure for further information on this option)


***Multi-Currency Card Acceptance:For more information on how to apply for a Multi-Currency acceptance see the following article:

https://support.peachpayments.com/support/solutions/articles/47001098875-how-to-enable-foreign-currency-card-payments-in-south-africa-



Solution 1- is through our aggregation model where everything flows through us and there is no need for your own merchant account. –Quick and easy to setup
Most merchants prefer to start off on this solution. Settlement however happens twice a week.
  • To register for a Peach merchant account >> Click Here


Solution 2 – is through your own merchant account.  We will be able to manage the application process for you so that you don't have to deal with the bank directly. 
  • To register for a Nedbank merchant account >> Click Here