Zellephant
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Interested to hear what others are using as a payment processor for their side hustles - specifically for online payments
I am currently using snapscan, and although it’s not bad, it has its downfalls - especially regarding payments processed between Fridays-Sundays or over long weekends. Snapscan is somehow part of Standard Bank as far as I can tell, so if you bank with Standard Bank, you get your payout then following day (excluding weekends). I however have no intention of opening a Standard Bank account. But Standard Bank payments to other banks seem to take the longest of all South African banks - often taking upwards of two full business days to clear.
This means that if a payment is recieved via snapscan on a Friday, at the earliest I get the payout the following Tuesday evening, but often only on the Wednesday morning, because snapscan batch processes all payments from 00:00 on Friday till 23:59 on Sunday the following Monday morning. Payments received on other weekdays are paid out sometime the next morning, and then also take 2-3 days to clear to my account.
As a result, I have to bankroll the “cashflow” for my side hustle out of my primary income for a lot of the time while waiting for clients payments to clear. It’s not a trainsmash and I am generally happy with snapscan and its really easy to set up/manage etc, but the principle of them not doing payouts on Fridays especially (but also Saturdays) does grate me a little. Especially when they charge you almost 3% of the transaction value to do the payout.
Wondering if anyone has experience with other payment processing service providers that pay out faster, and that perhaps also do daily payouts on Fridays and Maybe Saturdays as well, and can be integrated into an online storefront.
We have paystack and paygate integrations on our company systems, and they both do daily payouts 7 days a week, and have clearing accounts with all the major banks, so you always get the cash into your account within 24 hours. But these are paid for enterprise solutions and a bit overkill for a weekend hobby business.
I am currently using snapscan, and although it’s not bad, it has its downfalls - especially regarding payments processed between Fridays-Sundays or over long weekends. Snapscan is somehow part of Standard Bank as far as I can tell, so if you bank with Standard Bank, you get your payout then following day (excluding weekends). I however have no intention of opening a Standard Bank account. But Standard Bank payments to other banks seem to take the longest of all South African banks - often taking upwards of two full business days to clear.
This means that if a payment is recieved via snapscan on a Friday, at the earliest I get the payout the following Tuesday evening, but often only on the Wednesday morning, because snapscan batch processes all payments from 00:00 on Friday till 23:59 on Sunday the following Monday morning. Payments received on other weekdays are paid out sometime the next morning, and then also take 2-3 days to clear to my account.
As a result, I have to bankroll the “cashflow” for my side hustle out of my primary income for a lot of the time while waiting for clients payments to clear. It’s not a trainsmash and I am generally happy with snapscan and its really easy to set up/manage etc, but the principle of them not doing payouts on Fridays especially (but also Saturdays) does grate me a little. Especially when they charge you almost 3% of the transaction value to do the payout.
Wondering if anyone has experience with other payment processing service providers that pay out faster, and that perhaps also do daily payouts on Fridays and Maybe Saturdays as well, and can be integrated into an online storefront.
We have paystack and paygate integrations on our company systems, and they both do daily payouts 7 days a week, and have clearing accounts with all the major banks, so you always get the cash into your account within 24 hours. But these are paid for enterprise solutions and a bit overkill for a weekend hobby business.
