How does PayFast handle international payments?
You can receive international payments via Visa and Mastercard credit cards. A buyer can use a card that has been issued in any country. The amount will be in ZAR and the credit card provider will conduct the exchange, paying out ZAR to your PayFast account.
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Can I receive money from international buyers?
Yes, you can receive payments from international countries via Credit and Cheque cards and Masterpass. In order to receive payments by credit card, you will need to verify your account. Once you have verified your account you will be able to ...
Is PayFast a member of the Payments Association of South Africa (PASA)?
Yes, PayFast is registered with the Payments Association of South Africa (PASA) as an operator involved in “payments to third persons” as required by the South African Reserve Bank (SARB).
Can I receive recurring payments?
Yes, PayFast does support recurring billing. PayFast recurring billing allows merchants to create two methods of recurring payments; one is a subscription model, the other is an tokenization model. The subscription model supports membership or ...
How do I reconcile payments?
The way to look at this is to consider the PayFast account as a second business bank account and payouts are just a transfer of funds from one account (the PayFast one) to another account (your bank one). This means that all you need to recon is to ...