Connecting Payment Gateway to E-commerce store

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xro

Active Member
Joined
Oct 12, 2015
Messages
34
Hi Guys,

I've connected payfast to my e-commerce store and they don't allow payments over R5000????

I was not aware of this.

I emailed support and they said this;

Hi,

Thanks for contacting PayFast.

We can increase your credit card limit. However, we may need to introduce a "retained balance" on your account.

This retained balance is worked out by evaluating 1. the risk of the charity and 2. the amount you want us to increase the limit to. These funds would remain yours, but would not be able to be paid out from your PayFast account to your South African bank account (until 90 days after you close your PayFast account). They are retained to cover any potential fraud or chargebacks committed on your account.

You can think of this retained balance as a security deposit.

If you would like to proceed, please provide us with the following information and we would be happy to review your account:

- The nature of your cause
- The countries that you will be receiving credit card payments from
- The amount that you would like us to increase the receive limit to (maximum of R30 000)
- The cause website URL

Please note that the more information you provide, the more efficient our review will be.

If you'd like more information about our services, please do not hesitate to reply to me on this email. Or call us on 0861 729 327


So I can only do a max of 30k per transaction and that money over and above 5k they hold for a 3month period, destroying cash flow / liquidity for my business???

This is a bit ridiculous.

Any other alternatives??
 
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