What do you get charged, as a merchant with Peach. For card payments, you need a merchant account.
This is an agreement with a bank (different to a transactional account)
Here is a comparison of the two of the main merchant account options, for card payments acceptance.
- Please be aware that this is not an exhaustive list.
- 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.
A merchant account is different from a bank account
You can have your business bank account at any South African bank. The merchant account is a processing agreement with 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)
Standard Pricing
**NB: All fees exclude VAT** |
|
|
Peach | ISO Merchant Account (NEDBANK / ABSA / FNB) OPTION 2 / SOLUTION 2 | |
Merchant Account | ||
Once-off Setup Fee | R250 | R250 |
Peach Monthly Service Fee **(Optional) | R199 | R300 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 |
Per new card stored (Optional) | R3.00 | R3.00 |
Commission Fees: Visa / Mastercard |
| Ranges from 3.2
|
Contract Period | Cancel anytime | Cancel anytime |
Settlement Cycles | Weekly | Daily |
Setup / Lead Time | 7-14 working days | 14-20 working days |
Foreign Cards Acceptance | Yes | Yes |
Multi-Currency Processing*** | No | No |
Card Acceptance Options | Visa/Mastercard ONLY | Visa/Master/Amex/Diners |
You can still accept other payment methods in addition to card payments, such as
EFTSECURE
MASTERPASS
MOBICRED
PEACH PAYOUTS
PEACH PAYSAFE PAYMENT LINKS
**We do not charge monthly fees for Wix, Shopify, WooCommerce or Magento merchants, where the payment flow is once-off
Blended means one rate that applies regardless of volume or card type (debit or credit card)
*Processing Fees:(i.e. Debits)– per transaction costs will drop with more transactions that you do with us.
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:
OPTION 1 / SOLUTION 1
To register for a Peach merchant account >> Click Here
OPTION 2 / SOLUTION 2
To register for a ISO merchant account >> Click Here