Deciding on the right payment gateway can be confusing, it’s almost like comparing the prices of various medical aids. I have drawn up a simple comparison matrix. Please note that it’s not comprehensive but serves as a guide that you can use.
iVeri |
Monsterpay |
Sage
|
Payfast |
VCS |
MyGate |
|
| Setup Fee | R1200 | FREE | R1200 | FREE | None during test phase | R250 minimum |
| Cost Per Month | R385pm | FREE | R385pm | FREE | R145 pm minimum | R250 pm minimum |
| Cost Per Transaction | 2.5% | 4.5% | 2.5% | 3.9% | 0.5% (see below) | 0 |
| Additional amount per transaction | 0 | +R2.00 | +R2.00 | R 0.50c per authorisation Settlement Fee: R 0.50c + 0.5% of the value of the transaction |
R1.80 | |
| Includes Free transactions | 0 | 0 | 0 | 0 | 0 | 138 minimum |
| VAT | Ex VAT | Ex VAT | Ex VAT | Ex VAT | Ex VAT | Ex VAT |
| Credit Cards accepted | ||||||
| VISA | Yes | Yes | Yes | Yes | Yes | Yes |
| Mastercard | Yes | Yes | Yes | Yes | Yes | Yes |
| American Express | Yes | Yes | ||||
| Diners Club | Yes | Yes | ||||
| Reduced prices for charities | No | No | No | Yes | No | Yes |