Understand your transaction rates and fees
Understand how transaction rates and payout fees work, and where to check what you were charged.
A transaction rate is the percentage from our rate card that's charged on each successful transaction. Your rate depends on:
Payment method: debit and credit cards can have different rates, and American Express has its own rate.
Card origin: whether the card is from a South African or international bank.
How you're paid: in-person card payments and online payments, such as online cards and Instant EFT, have different rates.
Rates and fees can change.
Are rates shown excluding VAT?
All rates exclude VAT. VAT is added to the fee you pay. If you're VAT registered, check with your tax adviser how VAT on fees applies to your business.
For example, on a R100.00 card-machine sale at 2.75%:
Your rates at a glance
International cards are debit and credit cards linked to bank accounts outside South Africa.
Available online payment methods depend on the online product you use.
In-person rates for South African debit and credit cards
Card-machine rates for South African debit and credit cards are based on your card sales over 3 months. Your band is set by your lowest month in that period:
For example, if your card sales are R200 000, R200 000 and then R45 000, your lowest month is R45 000, so you qualify for the R40 000 to R60 000 band.
Payout fee
A payout fee of R2.50 is charged once a day, even if your bank gets two payouts that day. It's separate from the transaction rate and shows in your payout calculation.
To learn when payouts are made, see How payouts work.
Zero monthly rental is not the same as no fees
Card machines are a once-off purchase, with no monthly rental. You may still pay these separate charges:
Transaction rates: charged on each successful transaction.
Payout fees: R2.50 once a day when you are paid.
Subscriptions: recurring charges for optional services, such as SIM or data connectivity.
Where to see what you were charged
Sign in to the iK Dashboard.
Under Reports, select Payouts.
Open Statement.
Expand the relevant Recon Date and check Transaction Fees, Deductions and Amount paid out.
Your statement shows the fees applied to each payout. For a line-by-line breakdown, see Understand your payouts, statements and deductions.
Custom rates
If your monthly card sales are over R100 000, speak to our sales team about a custom rate.
