View Full Version : Setting up a internet merchant account
Ok i have a New business and i need to accept credit cards over the internet.
Paypal would work great however i cant set the buttons to use ZAR.
No i see that company's like Setcom, VCS ect require you to have a merchant account.
How do i go about setting one up, as i see the banks want you to be in business for x number of years, have x turnover.
How do you get the above if you are a new business. ?
18-04-2010, 03:43 PM
In order to use paypal, you must let your shopping cart system first convert the amount to US$. FNB then convert the amount back to ZAR. Alternatively, you may contact Netcash (www.netcash.co.za) or (www.mygate.co.za). We use the convertion method as there are no monthly fees or setup fees. Works like a charm.
You can also take a look at payfast.co.za
Very fast account activation, but not as easy to use as paypal's buttons.
18-04-2010, 04:10 PM
Have you had a look at Setcom's alternative offering - MonsterPay? Straightforward to set up, they work in SA Rand, as well as British pound and US dollars, and do not require a merchant account or a FNB account - your money can be withdrawn to any SA bank. monsterpay.co.za And they accept payment by credit card or direct transfer, which is very useful for someone who does not have a credit card. PM me if you want any help or additional information (no, I'm not connected with them in any way).
Some co's offer virtual accounts which allow you to trade using their merchant accounts instead of needing your own. There are some fees involved and there is an escrow period on a portion of the funds. MyGate used to offer it, i think setcom might as well. I know VCS do have it as i recently used it for a client who needed short term CC facilities... setup time was about 1-2 working days.
18-10-2012, 08:22 AM
I'm trying to sort out payments for my online shop, damn confusing. I would prefer PayPal, but concerned about the US$ and confusion for the users. What site do you have and are your users ok with $$?
My site is on Shopify, and they either work with a payment gateway in NZ and Standard Bank, or PayPal (for SA sites). I would prefer PayPal - less costs and I already bank at FNB.
Any help would be appreciated!
18-10-2012, 10:03 PM
I'd use paypal. Much cheaper than the rest.