For those living in South Africa and working online, sending and receiving money over the Internet has been a real challenge.  PayPal only allows locals to send funds but not withdraw any.  From the PayPal web:

“As of June 2005, South African residents are able to open a PayPal account, and can only send payments at this time. South African residents may not use PayPal to receive payments. PayPal continues to research how best to expand its offering in South Africa.” *https://www.paypal.com/…s

These drastic limits prevent S. Africans from earning a living online.  PayFast to the rescue, it’s a new online payment processor for South Africa residents and businesses.  PayFast makes it safe for buyers to send money and easy for sellers to receive money in S. Africa.

For Buyers

• Shop Online without disclosing your financial information
• Pay using EFT with the ease and speed of a Credit Card
• Shop with Confidence online

For Sellers

• No monthly fees! Only per transaction fees
• Accept EFT payments with the ease & speed of credit cards
• No manual reconciliation required to accept EFT payments
• Reduced fraud through effective use of technology

PayFast is the brainchild of Jonathan Smit a confessed technophobe living in S. Africa. Jonathan is also an Electronic/Computer engineer who is very kind to keep me informed on their progress.

In the coming October issue of DGCmagazine we will be discussing the business during an interview with Johathan Smit followed by an in depth look at this convenient new payment system.