Payfast vs Peach Payments fees differ enough to cost a mid-sized South African online store thousands of rands annually — yet most merchants pick a gateway based on name recognition rather than maths. If you run a Shopify store in South Africa, the gateway you choose affects your margin on every single transaction, your cash-flow through settlement timing, and your customers' trust at the moment they commit to pay. This post puts the current published rates side by side, works through a real R200,000/month cost scenario, and tells you exactly which platform wins under which conditions.
Both gateways are well-established, PCI DSS Level 1 compliant, and able to handle Shopify integrations without custom development. But their pricing structures are meaningfully different — and understanding the difference is straightforward once you have the actual numbers in front of you. You'll also want to read our guide to Shopify payment gateways in South Africa for the broader comparison across all available providers.
Quick Answer
When comparing PayFast vs Peach Payments fees on current published rates (August 2026), Peach Payments charges less for both card and EFT transactions than PayFast on its Growth plan: 2.95% + R1.50 vs 3.2% + R2.00 per card transaction, and 1.5% + R1.50 vs 2.0% (min R2.00) for instant EFT. For a store doing R200,000/month in sales (70% card, 30% EFT, around 333 transactions), Peach Payments costs approximately R5,530/month vs PayFast's R6,346 — a difference of roughly R9,792 annually. PayFast has no monthly fee on its standard plan and supports a broader range of local payment methods. All figures exclude VAT and are computed from official provider pricing as of August 2026 (sample — verify current rates before committing).
In This Guide
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Get a Free Gateway Cost ReviewPayFast Fees: The Full Rate Card (August 2026)
PayFast charges no setup fee and no monthly fee on its standard aggregation plan. You pay only on successful transactions. The table below reflects PayFast's published fee schedule as of August 2026 — all figures exclude VAT.
| Payment Method | PayFast Rate (ex VAT) |
|---|---|
| Credit / Cheque Card | 3.2% + R2.00 per transaction |
| Google Pay / Apple Pay / Samsung Pay | 3.2% + R2.00 per transaction |
| Instant EFT (all banks) | 2.0% (min R2.00) |
| Capitec Pay | 2.0% (min R2.00) |
| SnapScan / Scan to Pay | 3.5% + R2.00 per transaction |
| Mobicred | 3.2% |
| Zapper / Scode | 4.5% + R5.00 per transaction |
| MukuruPay | 3.5% + R6.00 per transaction |
| Payflex (BNPL) | 5.45% + R5.00 per transaction |
| MoreTyme (BNPL) | 5.5% + R2.00 per transaction |
| Payout to bank account | R8.70 per payout (flat) |
| Immediate payout (same-day) | 0.8% (min R14.00) |
| Refund processing | R2.00 per refund |
| Monthly account fee | None |
| Setup fee | None |
Merchants processing more than R50,000/month (averaged over three months) can contact PayFast's sales team to negotiate a custom rate. Below that threshold, the published rates above apply to everyone regardless of volume.
PayFast payout mechanics: Standard settlement for PayFast takes 2–3 business days for cleared funds to reach your South African bank account. Each payout request costs R8.70 ex VAT — most merchants batch these weekly rather than daily to reduce overhead. If you need same-day liquidity, the immediate payout option costs an additional 0.8% (minimum R14.00) on top of the transaction fee already paid.
Peach Payments Fees: The Full Rate Card (August 2026)
Peach Payments operates a two-tier structure: the Growth plan (no monthly fee, published rates) and an Enterprise plan (R300/month, custom volume-based rates for high-volume merchants). The figures below are for the Peach Payments Growth plan, the default for most SA merchants, as of August 2026 — all figures exclude VAT.
| Payment Method | Peach Payments Rate — Growth Plan (ex VAT) |
|---|---|
| Local Cards (3D Secure) — Visa, Mastercard, Amex | 2.95% + R1.50 per transaction |
| International Cards | 3.50% + R1.50 per transaction |
| Local Cards — Non-3DS / Recurring | 3.50% + R1.50 per transaction |
| Pay by Bank / Instant EFT (all banks except Capitec) | 1.50% + R1.50 per transaction |
| Capitec Pay | 1.50% + R1.50 per transaction |
| Digital Wallets (Apple Pay / Google Pay / Samsung Pay) | 2.95% + R1.50 per transaction |
| Buy Now Pay Later | 4.75%–5.35% + R1.50 + additional per-txn fee |
| Tokenisation (stored card billing) | R200/month (flat) |
| Monthly account fee (Growth) | None |
| Monthly account fee (Enterprise) | R300/month |
| Setup fee | None |
| Payout to bank account | Included (daily automated) |
Peach Payments settlement: Peach settles daily to your South African bank account, next business day, once you have completed the initial two-week trading period. There is no per-payout fee on the Growth plan. If you run a subscription product and need stored card billing, the R200/month tokenisation fee applies — factor this in if subscriptions are a meaningful part of your revenue model.
Payfast vs Peach Payments Fees: Head-to-Head
The PayFast vs Peach Payments fees comparison table below covers the metrics that matter most for a South African ecommerce store. Figures are from official published rate cards as of August 2026.
| Fee Category | PayFast | Peach Payments (Growth) | Lower Cost |
|---|---|---|---|
| Card transaction (3DS local) | 3.2% + R2.00 | 2.95% + R1.50 | Peach Payments |
| Instant EFT / Pay by Bank | 2.0% (min R2.00) | 1.5% + R1.50 | Peach Payments (higher volumes) |
| Capitec Pay | 2.0% (min R2.00) | 1.5% + R1.50 | Peach Payments |
| Digital Wallets (Apple / Google Pay) | 3.2% + R2.00 | 2.95% + R1.50 | Peach Payments |
| Monthly account fee | None | None (Growth) / R300 (Enterprise) | Equal (Growth plan) |
| Setup fee | None | None | Equal |
| Payout fee | R8.70/payout | Included | Peach Payments |
| Settlement speed | 2–3 business days | Next business day | Peach Payments |
| Volume discount threshold | R50,000/month | Custom (Enterprise) | PayFast (lower threshold) |
| Local alternative methods (Zapper, SnapScan, MukuruPay) | Yes (18+ methods) | Limited (fewer SA-specific wallets) | PayFast |
| Shopify integration | Plugin available | Plugin available | Equal |
Key Takeaway: Cards and EFT
Peach Payments has lower published rates on both card transactions (2.95% + R1.50 vs 3.2% + R2.00) and instant EFT (1.5% + R1.50 vs 2.0% min R2.00) than PayFast's standard plan. For stores where the majority of revenue flows through cards and EFT — the typical South African ecommerce mix — this difference compounds materially over 12 months. The one category where PayFast maintains a clear advantage is the breadth of local South African payment methods: 18+ options including Zapper, SnapScan, MukuruPay, and MoreTyme that Peach Payments does not all offer.
Computed Monthly Cost: R200,000/Month Store
Abstract rate differences become real when you apply them to your actual transaction volume. The scenario below uses a representative South African online store processing R200,000/month — a common turnover band for established SME ecommerce operations. This is a computed sample based on official August 2026 rates; verify current rates directly with each provider before making a switch.
Assumptions: R200,000 monthly revenue, 70% card / 30% instant EFT split, approximately 333 transactions/month, standard Growth/aggregation plan for both gateways.
| Cost Component | PayFast (ex VAT) | Peach Payments (ex VAT) |
|---|---|---|
| Card processing (R140,000 at rate + flat per txn) | R4,946 | R4,480 |
| EFT / Pay by Bank (R60,000 at rate + flat per txn) | R1,400 | R1,050 |
| Monthly account fee | None | None |
| Total monthly cost (ex VAT) | R6,346 | R5,530 |
| Annual cost (ex VAT) | R76,152 | R66,360 |
| Annual saving with Peach Payments | ~R9,792 ex VAT | |
Sample computed from official published rates (August 2026). PayFast payout fees excluded from the above to compare like-for-like processing costs — if you take four payouts monthly, add approximately R418/year ex VAT to the PayFast column. Figures sourced from EcommerceDevelopment.co.za's 2026 gateway cost comparison and independently verified against official rate cards.
EFT break-even note: Peach Payments adds a fixed R1.50 flat fee per EFT transaction, whereas PayFast's EFT rate is 2% with a floor of R2.00 and no additional flat fee. The break-even point is R300 per transaction: at R300, both gateways cost exactly R6.00 ex VAT for an EFT payment. Below R300, PayFast's published EFT rate produces a lower total charge per transaction at August 2026 pricing. Above R300, Peach Payments has the lower rate — on a R1,000 EFT transaction, for example, PayFast charges R20.00 vs Peach's R16.50.
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Book a 20-Minute Gateway AssessmentSettlement Timing and Shopify Integration
Settlement: Why the Timing Difference Matters
Settlement timing is not a minor detail — it is a cash-flow question. Peach Payments settles daily, with funds reaching your bank account on the next business day. PayFast typically takes 2–3 business days from the transaction date.
For a store doing R200,000/month, the gap between T+1 and T+3 settlement means a meaningfully larger cash float tied up in transit with PayFast than with Peach Payments at any given moment. During peak periods — Black Friday, end-of-month salary paydays — that difference can affect stock replenishment and supplier payment terms. Faster settlement wins when working capital is tight.
If you need immediate cash on a specific transaction, PayFast offers an immediate payout option at 0.8% ex VAT (minimum R14.00) — useful for large B2B orders but an extra cost at scale. Peach Payments includes daily settlement at no additional charge.
Shopify Integration
Both PayFast and Peach Payments integrate with Shopify through third-party payment provider plugins — neither requires custom development.
PayFast: Plugin available through the Shopify app ecosystem. Supports 18+ South African payment methods including card, Instant EFT, Capitec Pay, Apple Pay, Samsung Pay, Zapper, SnapScan, Mobicred, Payflex, and MoreTyme. PayFast connects with 70+ platforms total, making it one of the widest integration ecosystems for locally-built SA tools alongside Shopify. Straightforward to configure for merchants familiar with Shopify's payment settings.
Peach Payments: Shopify plugin is available and requires no developer. You contact Peach to receive your Entity ID and Secret Token, paste them into your Shopify backend under Payments → Third-Party Provider, run a test transaction in TEST mode, then activate LIVE credentials. Peach supports cards (Visa, Mastercard, Amex, Diners Club), EFT, BNPL, QR codes, digital wallets, vouchers, and cryptocurrency through the plugin. Their seven-day-per-week support is a practical differentiator for merchants who don't want to wait until Monday for a payment issue.
Key Takeaway: Shopify Merchants
Both gateways work on Shopify without developer involvement. PayFast's advantage is the breadth of local SA payment methods — particularly useful for stores targeting a wide demographic (Zapper, SnapScan, and MukuruPay reach different customer segments than card-only). Peach Payments' advantage is faster settlement and a lower card rate that shows up directly in margin. If you run a subscription ecommerce model, factor in Peach's R200/month tokenisation fee for stored card billing. For stores selling internationally, Peach's international card rate (3.50% + R1.50) and multi-currency support make it a stronger fit — see our guide to selling internationally from South Africa for the broader cross-border picture.
PayFast vs Peach Payments Fees: Which Gateway Wins for Your Store?
The right choice on PayFast vs Peach Payments fees depends on your transaction mix, volume, and operational priorities.
Choose Peach Payments Growth if: card and EFT transactions make up the majority of your checkout mix, you process above R50,000/month consistently, cash flow from fast settlement matters to your stock replenishment cycle, or you're selling internationally and need multi-currency card acceptance. The lower rates and included daily settlement produce a measurable saving at mid-to-high volumes.
Choose PayFast if: you need the widest range of South African alternative payment methods (Zapper, SnapScan, MukuruPay, Scode) to serve a broad demographic, your store is early-stage and you want zero commitment until you establish volume, or you operate a niche where BNPL through MoreTyme or Payflex is a meaningful driver and you want those methods pre-integrated without a custom arrangement. PayFast's 18+ payment methods also means less configuration if you want every locally-recognised option on a single checkout screen.
The gateway selection decision also interacts with your checkout flow. A lower processing rate is only the full picture if checkout conversion is healthy — 57% of South African online shoppers say fast, easy payments would lead them to choose one store over another, and 71% abandon purchases after a payment failure, according to the Stitch 2025 SA Consumer Payments Report. Gateway fees and checkout conversion are not independent variables. Review our Shopify checkout optimisation guide alongside any gateway decision.
Why South African Businesses Choose Growth Pulse Media for Ecommerce Strategy
Gateway selection is one lever in an ecommerce profitability equation — but it only moves the needle when the store's traffic, checkout conversion rate, and post-purchase email flows are also working. At Growth Pulse Media, we have run SA ecommerce campaigns across Shopify, integrated PayFast, Peach Payments, and Yoco stacks, and managed the full stack from product page to paid-out margin.
Our team does not rotate through junior account managers. Dirk built and scaled a South African ecommerce business before founding GPM, which means the advice you get on gateway configuration, BNPL strategy, and payment method selection for SA consumers comes from someone who has paid the invoices rather than read about them. We work with a limited number of Shopify clients at any given time — not to make the pitch sound exclusive, but because senior attention at full client capacity is not senior attention. If you want to know how we approach the full ecommerce revenue picture for Shopify stores in South Africa, the service detail is on that page.
Who This Gateway Comparison Is NOT For
Early-stage stores where monthly sales are still modest. When transaction volume is low, the cost difference between the two gateways is negligible — not worth the switching friction and re-testing cycle. Get checkout working and orders flowing first, then revisit the gateway decision once volume makes the maths meaningful.
Businesses that need a merchant bank account gateway. Both PayFast and Peach Payments operate as payment service providers — they aggregate merchant accounts rather than requiring you to have one at your bank. If your bank requires a direct acquiring relationship (common for large corporates or specific regulated industries), you need a different gateway entirely. Neither platform is designed for that use case.
Merchants who rely heavily on Zapper, SnapScan, or MukuruPay as primary payment methods. These local SA alternative methods are available on PayFast but not all are available on Peach Payments. If your store serves a customer segment that primarily transacts through these channels, Peach Payments' lower card rates may not offset the loss of checkout options for your specific audience. The BNPL landscape in South Africa is also relevant if you're weighing the cost of Payflex or MoreTyme through PayFast vs Peach's BNPL arrangements.
Subscription merchants who haven't costed in tokenisation. If stored card billing for recurring orders is central to your model — subscription boxes, software-as-a-service on Shopify, or membership products — Peach Payments' R200/month tokenisation fee changes the comparison. At 20+ active subscribers generating recurring revenue, R200/month is absorbed quickly. At very small subscriber counts, it shifts the break-even point. Cost it before assuming Peach wins on subscriptions.
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Request a Full Ecommerce Revenue AuditFrequently Asked Questions
Does Peach Payments have lower card rates than PayFast in 2026?
Yes, based on published August 2026 rates. Peach Payments charges 2.95% + R1.50 per local 3D Secure card transaction on its Growth plan, compared to PayFast's 3.2% + R2.00. On a R500 card transaction, Peach costs R16.25 vs PayFast's R18.00 — both ex VAT. The gap compounds at higher monthly volumes: a store processing R200,000/month total (70% card, 30% EFT) saves approximately R816/month or roughly R9,792/year by using Peach Payments at published rates. Verify current rates directly with each provider as pricing can change.
Does PayFast or Peach Payments settle funds faster?
Peach Payments settles faster. Peach Payments completes daily automated settlement with funds reaching your South African bank account the next business day. PayFast's standard settlement takes 2–3 business days from the transaction date, or you can pay an additional 0.8% (min R14.00) for an immediate payout. For stores where working capital and stock replenishment timing matter, Peach Payments' daily settlement is a material operational advantage.
Can I use both PayFast and Peach Payments on a Shopify store?
No — Shopify allows only one active third-party payment provider at a time in South Africa. You cannot run both gateways simultaneously on a single Shopify checkout. Some merchants operate two separate Shopify stores for different product lines and use a different gateway on each, but this is a complex arrangement. For most SA stores, pick the gateway that best fits your primary transaction mix and volume, and use it as your sole processor.
Does Peach Payments charge a monthly fee?
On the Growth plan, no — Peach Payments has no monthly account fee and no setup fee. The only recurring add-on is R200/month for tokenisation (stored card billing for recurring payments). The Enterprise plan includes a R300/month account fee in exchange for custom volume-based transaction rates — relevant for high-volume merchants whose transaction throughput makes the monthly fee worth the negotiated rate reduction.
Which gateway is better for South African Buy Now Pay Later options?
Both PayFast and Peach Payments support BNPL, but through different providers. PayFast integrates Payflex (5.45% + R5.00) and MoreTyme (5.5% + R2.00). Peach Payments offers BNPL at 4.75%–5.35% + R1.50 plus additional per-transaction fees. The BNPL rate on Peach is slightly lower on the percentage but more complex in structure. For a deeper look at South African BNPL options across the market, read our Buy Now Pay Later South Africa guide.
Does PayFast work well for high-volume ecommerce stores?
PayFast offers negotiated rates for merchants averaging over R50,000/month, so the published 3.2% card rate is not necessarily the ceiling you pay as volume grows. However, below the negotiation threshold, the published rates apply — and Peach Payments' Growth plan published rates are already lower than PayFast's standard rates. If you are consistently above the R50,000/month negotiation threshold and haven't yet contacted PayFast's sales team about a custom rate, that conversation should happen before you assume the published rate is your final cost.
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