ZT
Zaheeda T
1 reviews | Active since Jul 2019
20 Feb 2024, 02:11
Expensive for small business merchants, payouts take long
Pay Fast for merchants is not suitable for small businesses. The Transaction fees are high, then they charge a payout fee on top of it all. Then it takes DAYS to get a payout it's not INSTANT at all, it's false advertising. You will wait, your small business will suffer.
Ozow is a GREAT alternative except they don't have Card Transaction ability.
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PayFast's replyOfficial
20 Feb 2024, 09:41Hi there Zaheeda and thank you for the feedback. At Payfast, we offer over 18 payment methods and to offer and maintain these products on one platform certainly competes with the rest of the industry offerings. Unfortunately, we compete and structure our fees to align with what we are offering. We do not charge a monthly fee or setup fee. We merely only charge you for every successful transaction. You are able to select which payment methods you'd like to opt in for and which ones you do not want to offer, to avoid paying the transaction fee for whichever suits your business more however, this would decrease the options made available to your customer base who may have a preference when it comes to payment methods.
With regards to the payout fee, we usually suggest that you process a payout in intervals to obtain a lump sum instead of generating a payout for every transaction. We do understand that certain business requires the profits from previous transaction in order to meet the requirements of the next transaction. We do certainly hope that you will stay with Payfast, if you find the benefits to be worth it for you and your business. If there is anything we can assist with, feel free to reach out to us once more.
With regards to the payout fee, we usually suggest that you process a payout in intervals to obtain a lump sum instead of generating a payout for every transaction. We do understand that certain business requires the profits from previous transaction in order to meet the requirements of the next transaction. We do certainly hope that you will stay with Payfast, if you find the benefits to be worth it for you and your business. If there is anything we can assist with, feel free to reach out to us once more.
PayFast's reply20 Feb 2024, 09:41
Official
Hi there Zaheeda and thank you for the feedback. At Payfast, we offer over 18 payment methods and to offer and maintain these products on one platform certainly competes with the rest of the industry offerings. Unfortunately, we compete and structure our fees to align with what we are offering. We do not charge a monthly fee or setup fee. We merely only charge you for every successful transaction. You are able to select which payment methods you'd like to opt in for and which ones you do not want to offer, to avoid paying the transaction fee for whichever suits your business more however, this would decrease the options made available to your customer base who may have a preference when it comes to payment methods.
With regards to the payout fee, we usually suggest that you process a payout in intervals to obtain a lump sum instead of generating a payout for every transaction. We do understand that certain business requires the profits from previous transaction in order to meet the requirements of the next transaction. We do certainly hope that you will stay with Payfast, if you find the benefits to be worth it for you and your business. If there is anything we can assist with, feel free to reach out to us once more.
With regards to the payout fee, we usually suggest that you process a payout in intervals to obtain a lump sum instead of generating a payout for every transaction. We do understand that certain business requires the profits from previous transaction in order to meet the requirements of the next transaction. We do certainly hope that you will stay with Payfast, if you find the benefits to be worth it for you and your business. If there is anything we can assist with, feel free to reach out to us once more.