Getting settled is as easy as 1, 2, 3…

Getting settled means that after accepting a payment with an iKhokha card machine, the funds will be transferred into the merchant's chosen bank account within 1 to 3 working days.

Ka-ching!


The amount settled will be less the iKhokha transaction commission fee of 2.75% (ex VAT).

i.e R100 - 2.75% (ex VAT) = R97.27

i.e R100 - 3.1625% (incl VAT) = R96.84


There is a settlement fee of R2.50 per settlement i.e. R2.50 every time money is settled into a merchant's account. This fee is only applicable when a merchant trades and money is settled into the registered bank account. Therefore, if a merchant doesn't transact this fee will not apply.

i.e R97.25 - R2.50 (settlement fee) = R94.75 (ex VAT)

i.e R96.25 - R2.50 (settlement fee) = R94.34 (incl VAT)

Settlements are done on business days only and not on Sundays and public holidays.


NB: 
*We only settle daily transactions of R10 or more.
*If your total daily transactions are below this amount, you will only be settled once you go over R10.