Blog » Online payment platforms 

Online payment platforms 

One of the most important things you need in order to have a profitable ecommerce store or business is a secure online payment platform. Not only do online payment platforms offer a convenient way for your customers to make payments, but they also streamline the payment process (i.e. securely transmitting the payment data from your customer’s bank account to yours) so that you can focus on the other important aspects of running your business, such as managing inventory, website maintenance and marketing. 

If you’re in the early stages of getting your online business up and running or are already established but are looking to switch to another payment platform that’s better suited to your business needs, this blog is for you. Below we’ll touch on the importance of secure online payment portals and some of the popular payment processors in South Africa.  

Secure online payment portals 

One of the most important considerations when it comes to selecting an online payment platform or online payment portal is security. This is because consumers want to know that their personal and financial information is safe when making online payments. It’s therefore essential to choose a payment provider that offers robust security features such as encryption and fraud protection, and which is PCI DSS Level 1 compliant. 

In addition to security features, payment portals should also be easy to use and navigate and offer a variety of payment methods to suit your customers’ preferences. A seamless payment experience can increase customer satisfaction and reduce cart abandonment rates, which is a win-win for both your business and customers. Happy customers equate to a successful business.  

Payment processors in South Africa 

While there are several payment processors available in South Africa, for the purpose of this blog we’ll focus on Payfast and Paygate. Both payment platforms fall under the Network International umbrella, which means under the Payfast brand our unified services provide a holistic offering that suits every business need, from startup to enterprise. 

The Payfast payment portal allows businesses of all sizes to accept payments from customers using various payment methods, including Visa, Mastercard and store cards, Instant EFT and scan to pay.  With zero sign up fees or monthly costs, it’s easy for any entrepreneur or business to sign up with Payfast online and get transacting within days. 

Even if you don’t have a website, you can easily receive payments via a Payfast payment link with the Payment Request feature and benefit from our other features like Split Payments, Subscriptions and Tokenization.  

Payfast payment methods 

Payfast is one of the most popular payment processors in South Africa, offering a range of payment methods for businesses. Here are some of the payment methods we process: 

  • Credit, Cheque and Debit Cards – Customers can make payments using their Visa and Mastercard credit or debit cards. If you choose Paygate as your payment gateway, you can also accept American Express and Diner’s Club.   
  • Instant EFT – Customers can also make payments using instant EFT, which is a fast and secure way to transfer funds directly from their bank account. 
  • Mobicred – This payment method allows customers to make purchases and pay them off over time using a credit facility. 
  • QR Code Payment Apps – Payfast integrates with several QR code scan to pay apps, such as Zapper and SnapScan, allowing customers to make payments using their smartphones. 
  • Capitec Pay – This payment method allows Capitec Bank customers to make payments directly from their bank account using the Capitec app. 
  • MoreTyme – A Buy Now, Pay Later payment method that allows customers to pay off their purchases in interest-free payments.  
  • SCode – A cash-based payment option that allows customers to make cash payments for online purchases at participating retailers using a unique code that is sent to their mobile phone. 
  • Store Cards – Store cards underlined by RCS enable customers to make online purchases using their store card accounts. 

By offering a variety of payment methods at checkout, your business can cater to the diverse needs and preferences of your customers.  

Choosing a payment platform 

Online payment platforms are essential for businesses that want to offer their customers a seamless payment experience. When choosing a payment platform, it’s essential to prioritise security, ease of use, and the range of payment methods offered.  

If you’re looking to take your online business to the next level, sign up with Payfast to streamline your payment process and offer an excellent payment experience for your customers.