South Africa’s largest payment enabler, DPO South Africa, has launched its new, fully managed, payment solution that gives small and medium companies the same power and access to services as enterprise players. PayGate Plus is the first of its kind in Africa and is expected to set the trend in online payment standards across the continent.
“PayGate Plus is essentially a hybrid model of the aggregator, switching and ISO models that have been offered globally. With PayGate Plus, organisations of all sizes can access the benefits of merchant bank accounts, all available digital and card payment methods, as well as the business management services – which, until now, have been paid-for services even for enterprise clients,” explains Brendon Williamson, chief sales officer at DPO South Africa.
The service comes at an opportune time as it allows those who are offering essential services to quickly accept online payments. It is also perfect for other businesses looking to rapidly digitally transform their offering post lockdown.
Williamson says aggregation has always worked well for startup digital traders because it allows a fast sign-up and setup. Companies looking for the benefits of merchant accounts would have had to comply with the more lengthy regulatory and lending requirements of a bank application.
“Our clients have all the benefits of a banking merchant facility without the wait. What’s more, the banks benefit because they still enjoy client acquisition, but DPO SA takes the compliance administrative burden away from them. This solution answers both the client and bank’s business objectives,” says Williamson.
The PayGate Plus solution settles the merchant as quickly or, in some instances, more quickly than the banks used to. The solution will also take care of online business admin from transaction reconciliation to chargeback management with an improved fraud management system.
“The merchant doesn’t have to think about anything. We have you covered from A to Z, the merchant can sit on a beach and manage their business from their phone. If a transaction looks fraudulent, you can delay delivery of the product until we have investigated it for you. This option is like allowing the startup merchant to enjoy driving a Mercedes with the same payments of a regular rental.”
PayGate Plus allows for payment across credit and debit cards, Masterpass, Zapper, Snapscan, Mobicred, PayPal as well as SiD Secure EFT and others. PayGate Plus merchants also have access to card tokenisation, recurring invoicing and recurring payment services at no extra cost.
The solution will continue to mature with more offerings added over time. Williamson says the company will be offering a fully digital KYC compliance check by the second quarter of the year.
The PayGate Plus merchant will never have to worry about caps on their transactions and they can stay on the PayGate Plus platform throughout their lifespan. Previously, aggregator merchants were forced to move to merchant accounts once their turnover reached R1.6m per annum.
“We have no doubt that this solution will be the best and only product a merchant requires for their business. PayGate Plus merchants only ever have to open one account. From startup to enterprise, PayGate Plus will help you grow,” Williamson concludes.