Today we’re looking at the MyGate payment gateway. Payment gateways are growing in popularity in South Africa as we continue to migrate to online purchases. Interestingly South Africa is limited by the amount of credit cards in circulation so other forms of payment are required meaning a payment gateway has to be fairly diverse.
MyGate works on many levels: They accept credit card payments from your website in order to facilitate eCommerce, recurring payments for automated payments, call center payments as well as providing fraud protection and full reporting functionality.
MyGate bill themselves as: “the most cost effective and innovative payment gateway in South Africa. We know how important ecommerce is or can be to your business and will ensure that it pays you to transact with MyGate. MyGate will walk you through each step to setting your website up to accept online credit card transactions.”
How to sign up:
Firstly you need a merchant bank account with a South African bank. MyGate will streamline the merchant application process by helping with the application and liaising between you and merchant bank.
You then integrate the payment gateway in your e-commerce shopping cart. Common integrations include Virtuemart, Magento and other services that are relatively easy to install. The cost of a transaction is at most R1.80 per transaction making MyGate very cost effective.
You can then receive credit cards, ebucks and the FNB cell pay point services through your online store!
- Easy integration to common platforms
- MyGate helps to connect with a bank
- Helps with fraud prevention
- Call center to help with payments
- 3D secure and PCI compliance
- R1.80 per transaction
- No debit card or EFT payments
- Some might be unhappy with the time it takes to get money into your account even though it’s often daily
- Cannot accept foreign currency