Choosing the Best Payment Gateway for Shopify in South Africa

Do you which is the best payment gateway for Shopify? The answer is Shopify Payments—this payment service works by allowing you to accept payments straight through your Shopify store. Furthermore, by doing away with the need for merchant accounts or other third-party payment processors, it streamlines online transactions. All in all, it is seamlessly integrated and supports a number of payment options, giving your customers a seamless checkout process.

The only issue with Shopify Payments is that it is not being offered by Shopify in South Africa as of now. This is why you will have to look for other options that may be just as good in integrating with your Shopify store. In this blog, keeping this urgent need in mind, we will be going over a list of payment gateway options for Shopify stores.

But let us also break down the blog on a section by section basis before moving ahead: in the first section, we will be briefly introducing all the keywords of the blog (Shopify, payment gateway, the specific needs of a business in South Africa); in the second section, we will list down and then analyze some of the market-leading payment gateways that actually do operate in South Africa to help you decide which to choose; in the third section, we will detail on the ease of integration with which SubscriptionFlow works with a lot of payment gateways to help you figure out if this may be a subscription-management software you may want for your Shopify store in South Africa.

Section 1: What is Shopify? What are payment gateways? What is unique about SaaS businesses in South Africa?

What is Shopify?

Shopify is a one-size-fits-all platform for starting and running your online business. It lets you create an online store and market your products on different channels. You can customize the look and feel of your store to fit your brand with the many themes and applications available. Additionally, concentrated order and inventory control streamlines operations, and you can interact with your clientele more effectively by utilizing marketing tools. Shopify offers point-of-sale support for in-person transactions in addition to online sales. It also offers funding options and financial management tools to improve the financial stability of your company.

What are payment gateways and why do you need them?

In essence, payment gateways serve as intermediaries in online transactions, ensuring that buyers and sellers have a seamless exchange. They manage the safe passage of payment information from the browser of the buyer to the server of the seller and ultimately to the payment processor. In addition, they perform cool functions like currency conversion and fraud detection to make things hassle-free and secure.

The question, however, still lingers as to why then do you require them? Assuming you have an online store, you must have a method of collecting payments. Payment gateways enable that to occur without requiring you to handle private payment information. By doing this, you not only lower the chance of breaches of data but also avoid any compliance-related problems.

What is unique about SaaS businesses in South Africa?

The SaaS sector in South Africa is experiencing tremendous expansion and providing innovative solutions for a wide range of industries. Based on current data, there are more than 50 online service providers in South Africa that together bring in over $100 million in revenue and employ over 1,500 people. Prominent SaaS companies and up-and-coming startups that make a substantial contribution to the nation’s tech sector are among them. This is why SaaS matters so much in South Africa as it is still a developing economy which is why, unlike other newly developed economies like Israel, it still has room for you to find a food in the market.

Section 2: What is the Best Payment Gateway for Shopify in South Africa?

Best Payment Gateways for Shopify in South Africa: A-List

1. PayFast

One of your options should be PayFast, a well-known payment gateway that accepts a variety of payment methods, such as debit cards, Instant EFT, Masterpass, SCode, RCS store cards, and MoreTyme. Whether you are using a custom-built solution or a plug-and-play shopping cart, incorporating PayFast with your online store is simple. It offers instant access to alternative ways to make payments on verified accounts and gets net amounts every 48 hours.

Secondly, if you are in South Africa then you should really take advantage of its quick, scalable and secure payment processing. PayFast, which is trusted by more than a whopping 100,000 South African companies, takes a pro-active stance against scams and data security. You can focus on growing your business by using PayFast to easily accept fast and safe online payments from almost anywhere in the world.

2. Peach Payments

Peach Payments has been designed specifically for SaaS companies in South Africa. It provides a comprehensive and safe online payment solution. SaaS companies can process payments from customers anywhere in the world with ease using Peach Payments. It also makes it easier to process subscription payments and advanced one-click checkouts, streamlines payouts and offers free daily settlements. Peach Payments also has advanced safety and fraud prevention measures, seamless integration with almost every major e-commerce platform, and round-the-clock personalized assistance.

Notably, some of the entire African continent’s most vibrant companies have trusted Peach Payments. Peach Payments obtained a large amount of funding in 2023, demonstrating both its potential for expansion and its goal of becoming the go-to payments partner throughout the African continent.

3. Yoco

Let us mix up things a little with this new payment gateway. Yoco is an excellent option for South African SaaS companies searching for a simple payment gateway. Why? because it provides a quick, easy, and safe method for processing credit card payments online. Yoco Gateway is easy to set up and takes only a few minutes to complete. It works with common website builders such as WordPress, Wix, WooCommerce, and Shopstar. The finest aspect? No minimum or monthly fees! Just a tiny transaction cost that goes down as your sales increase. Additionally, Yoco Gateway offers comprehensive information and notifications on your revenue and goods through your Yoco Portal and facilitates payments from customers in other countries. You can feel secure knowing that Yoco’s commitment to local support is protecting both your money and your clients.

4. Ozow

Ozow is a reputable online payment gateway that offers quick EFT solutions specifically designed for South African SaaS companies. Through its vast database of nearly fifty million account holders, Ozow connects businesses with ease, enabling safe transactions without the need for cash or cards. Working with leading South African lenders, Ozow complies with the strictest global security and safety regulations. Furthermore, Ozow provides bank the API solutions for easy payouts and refunds, guaranteeing SaaS companies give their clients a simple and easy way to make payments.

So, which payment gateway should you choose?

As mentioned above, each of the four well-known payment gateways for SaaS companies in South Africa has unique benefits that are suited to various requirements. PayFast is notable for its ease of use and effectiveness, accepting a wide range of payment options and processing them quickly and securely. Peach Payments offers extensive features, international payment processing, and individualized support, all tailored to SaaS companies. Yoco offers a convenient choice with easy credit card processing, no recurring charges, and seamless integration. In the meantime, Ozow is an expert in quick EFT solutions. It offers bank API options for efficient payouts and makes use of a large network for safe transactions. Keeping all this information in mind, you can select a gateway that best suits your needs based on factors like ease of use, worldwide reach, cost, or speed.

Section 3: How does SubscriptionFlow integrate with payment gateways in South Africa and why you may need it?

Simply put, SubscriptionFlow makes subscription business management simple. It makes a number of tasks easier, including developing and marketing subscription plans, automating invoicing and billing, keeping an eye on client behavior and retention, and producing informative reports. It also makes it possible to accept payments in a variety of currencies and payment methods.

It is compatible with a number of South African payment gateways, such as PayFast and Peach Payments (from the ones mentioned in the previous section). By utilizing these gateways, SubscriptionFlow’s users can improve the effectiveness and safety of their membership management process by gaining access to features like tokenization, avoiding fraudulent transactions, PCI compliance, and recurring billing. Lastly, SubscriptionFlow provides reliable and safe payment solutions that enable businesses to maximize revenue growth.

SubscriptionFlow also provides AI-driven data and analysis that monitor consumer habits, rate of churn, rate of retention, and increase in revenue specifically in South Africa, along with to it integrating with payment gateways. SubscriptionFlow is a comprehensive solution for subscription businesses looking to expand into the African market and optimize subscription processes.

Conclusion

To sum up, although Shopify Payments remains a dependable choice, its unavailability in South Africa requires investigating alternative gateways. This blog provides an extensive inventory of substitutes. PayFast is renowned for its security and user-friendliness, whereas Peach Payments specializes in SaaS companies. Yoco offers cost-effectiveness and simplicity, while Ozow focuses on providing rapid EFT solutions. Businesses can maximize the processing of payments for the SaaS market in South Africa by considering their distinctive features. Furthermore, SubscriptionFlow offers insights based on AI for a subscription management and earnings optimization, integrating with South African gateways with ease.

Book a demo with SubscriptionFlow now to integrate it with the best payment gateway that suits the needs of your SaaS business in South Africa!