Take advantage of iKhokha's low transaction rates!
The transaction rate is a small percentage that we charge for transactions that you process with iKhokha. This is a standard practice for payment solution providers.
The transaction rate depends on the type of payment method that you use with iKhokha, as well as the type of card or instant EFT used by your customer.
We will match or beat the rate offered by our competitors. That’s our way of delivering on our promise to make life easier for small businesses. Get in touch with one of our team members on 087 222 7000 or support@ikhokha.com.
Card machines - South African cards
The transaction rate that we charge for South African cards on our card machines depends on how much you trade with us. The more you trade, the lower your fees!
If you trade less than R40 000 per month, our transaction rate is 2.75% (excl. VAT).
If you trade between R40 000 and R100 000, we will automatically decrease your transaction rate, down to 2.65%, 2.55% or 2.50% (excl. VAT), depending on how much you trade. You will hear from us on the 10th of the month if your rate has been dropped, and it will be effective from the 10th of the following month.
If you trade over R100 000 or more per month, you can chat to one of our team members to get custom rates on 087 222 7000 or support@ikhokha.com. We will match or beat the rate offered by our competitors.
Monthly Card Volume |
Transaction Rate for South African cards on a card machine
|
| R0 – R40 000 | 2.75% excluding VAT |
| R40 000 – R60 000 | 2.65% excluding VAT |
| R60,000 – R80 000 | 2.55% excluding VAT |
| R80 000 – R100 000 | 2.50% excluding VAT |
| R100 000 or more | Get a custom low rate |
QUICK NOTE: iKhokha transaction rates quoted above exclude VAT as per the industry standard.
Online payments - South African cards
When a customer pays you with a South African debit or credit card using one of our online payment products such as a Payment Gateway or a Payment Link, we charge a transaction rate of 2.85% excluding VAT.
Depending on your volume of transactions, you can chat to one of our team members to get custom rates on 087 222 7000 or support@ikhokha.com.
Online payments - Instant EFT
When a customer pays you with a South African Instant EFT using one of our online payment products such as a Payment Gateway or a Payment Link, we charge a transaction rate of 2.00% excluding VAT.
Depending on your volume of transactions, you can chat to one of our team members to get custom rates on 087 222 7000 or support@ikhokha.com.
International Card Rates
For foreign credit and debit cards, we charge a competitive transaction rate of 3.25% (excluding VAT). This only applies to debit and credit cards linked to bank accounts outside of South Africa.
This applies to both card machines as well as to online payments such as Payment Gateways, Payment Links etc.
Zero Monthly Fees
ln addition to lower transaction rates, iKhokha card machines can be purchased once-off or on a weekly payment plan over 16 weeks. This means you own your card machine and don’t pay any monthly rental fees.
Settlement Fees
There is a standard settlement fee for funds to be transferred daily into a merchant’s account. It's a nominal amount of R2.50 per transaction settlement (regardless of the amount settled).
Need any advice on transactions and settlement fees? Call our Support Team on 087 222 7000 or support@ikhokha.com.