iKhokha Transaction Rates
Understand how iKhokha's transaction rates work and what you'll pay when accepting card and online payments.
A transaction rate is the percentage iKhokha charges when you accept a payment. Your rate depends on how your customer pays, the type of card they use, who your business banks with and how much you trade.
For card machine payments, the more you sell, the lower your transaction rate can be. Businesses that bank with Nedbank also qualify for lower rates.
In-person payments
When you accept a payment using an iKhokha card machine or Tap on Phone, your transaction rate depends on your monthly card sales, the type of card your customer uses and who your business banks with.
Businesses that bank with Nedbank
| Monthly card sales | Debit card | Credit card | International card | Amex |
|---|---|---|---|---|
| R0 – R50k | 1.85% | 1.85% | 2.50% | 2.50% |
| R50k – R500k | 0.85% | 1.85% | 2.50% | 2.50% |
| R500k – R1m | 0.70% | 1.70% | 2.50% | 2.50% |
| R1m+ | 0.60% | 1.60% | 2.50% | 2.50% |
Businesses that bank with other banks
| Monthly card sales | Debit card | Credit card | International card | Amex |
|---|---|---|---|---|
| R0 – R50k | 2.10% | 2.10% | 3.00% | 3.00% |
| R50k – R500k | 1.15% | 2.10% | 2.60% | 2.90% |
| R500k – R1m | 1.00% | 2.00% | 2.50% | 2.80% |
| R1m+ | 0.90% | 1.80% | 2.50% | 2.80% |
All transaction rates exclude VAT.
Your monthly card sales determine which transaction tier applies to your business. The tables show the rate for each card type within that tier.
International cards are debit or credit cards linked to bank accounts outside South Africa.
For the latest rates, visit our Transaction Rates & Pricing page.
Online payment transaction rates
When customers pay you online using products such as iK Pay Gateway or iK Pay Link, different transaction rates apply.
| Payment method | Transaction rate |
|---|---|
| South African debit and credit cards | 2.85% |
| Instant EFT | 2.00% |
These rates exclude VAT.
Online payment rates differ from card machine rates. You can find the latest online payment fees on our Pricing page.
Do I pay monthly rental fees?
There are no monthly rental fees for iKhokha card machines purchased once-off. Once you've bought your card machine, it's yours.
Other charges, such as optional SIM fees, transaction fees and payout fees, may still apply.
Payout fees
iKhokha charges a standard payout fee of R2.50 per day when your card sales are paid into your account, regardless of the amount.
If you receive two payouts on the same day, you're only charged the daily payout fee once.
Need help understanding your rates?
You can use the rates calculator to see which rates apply to your business based on your monthly card sales and banking provider.
If you have questions about your transaction rates, contact our Support Team on 087 222 7000 or email support@ikhokha.com.
