Payment Gateway In South Africa
These days merchants across South Africa use payment gateways for online transactions. Transactions can be domestic or international. Quadrapay is happy to declare that recently a well-known payment gateway company has started accepting merchant account applications from South Africa. We are proud reseller partner of this well-known payment processing giant. South African merchants can easily apply with Quadrapay to get this solution. This solution is robust and offers cross-border multi-currency payment processing. Here are a few advantages of using this option.
- No need to carry cash anymore as the merchant account handles all transactions electronically.
- Comprehensive reporting helps businesses to keep track of returns on a real-time basis. Merchants can pull transaction information any time. Merchants can also initiate refunds.
- Online transaction improves the growth of the countries economy. International buyers can make payments in their own local currencies. It helps emerging markets to lower the trade deficit.
- Merchants can get settlements directly into the business bank account in their desired currencies.
- Payment gateway builds a trust factor in the minds of the buyers for the merchants due to the implementation of 3D secure technology.
2D Payment gateway And 3D Payment Gateway. The Difference.
The primary difference between 2D and 3D payment gateway is that the 3D payment processing solution has an additional feature which reduces fraud percentage. With 3D payment gateway, customers authentication is required to make an online transaction. After submitting transaction details, the 3D secure page requires OTP, PIN or password to verify that the actual cardholder is making the transaction. With 2d Payment Gateway, this filter is not applicable. We strongly suggest all merchants should use 3D Secure payment gateways.
Quadrapay has done its own research in finding reliable credit card processing options for South Africa but you must look at these additional factors:
Transparent Fee Structure – Merchants can ask the PSPs about the pricing structure in advance. The merchant should look at the MDR Percentage, Rolling Reserve(Applies in case of High risk Merchant Accounts and Payment gateways), Arrears. Merchants also have right to negotiate regarding pricing structure.
Security – Before applying for a South African payment gateway, merchants should analyse the processor that they are going to signup. The PSP must be fully compliant to the PCI DSS standards. Quadrapay is proud to announce that the card processing solutions that we recommend in the entire African market are fully PCI DSS compliant.
Integration Assistance – Payment gateway integration plays a crucial role. Business owners can ask Quadrapay for integration assistance. You can also ask the processors for ready-made plugins for well-known CMSs like WordPress, Magento, Shopify etc.
Multiple Currency Payment processing Solutions – If South African business owners have customers from different nations then it is essential that the payment gateway has the feature of multicurrency processing. International customers like to pay in their local currencies.
Payout Schedule – Ask your payment service provider for the payout schedule. Most of the time, processors keep the arrears of one week for the high-risk industry. Low risk merchants can get payouts in the frequency of T+3.
Company Reputation – Merchant should do their own in-depth research about the reputation of payment gateway company.
To get more information about payment gateways in South Africa, business owners can contact us on [email protected].