Comparison · Updated October 9, 2026
Yoco vs Payfast (South Africa)
Yoco
B
Yoco is a Cape Town payments company that sells card machines, a free point-of-sale app and online payment tools to small and independent businesses in South Africa, and only in South Africa: its terms refuse businesses registered elsewhere and limit processing to sales made in the country, in rand. A merchant signs Yoco's own agreement rather than applying to a bank for a merchant account, with Absa and Citibank named in the terms as examples of the banking partners behind the payment service, which is why sign-up takes minutes and why Yoco, not a bank, decides when to pause a payout. As of September 2026 there are three plans. Core costs nothing a month and charges 2.30% excluding VAT on local cards in person, dropping to 1.35% on debit cards once the rolling three-month average of monthly sales reaches R50,000. Plus (R249 a month per location) and Pro (R499) lower those rates and add loyalty, multi-location, table management and accounting integrations. Online payments cost more: 2.95% + R2 excluding VAT on local cards on Core. Hardware is bought outright, with no rental: the Khumo 2 card machine was R699 on promotion. Standard payouts are free and, on Yoco's own schedule, reach the bank two to three business days after the sale, and faster payouts cost extra except on Pro. Yoco said in May 2026 that it serves more than 200,000 merchants; its newer card-machine page claims 250,000+ businesses. Its public review record is mixed: 3.7 out of 5 across 356 HelloPeter reviews in the past year, with praise for named support staff and complaints about account reviews, held payouts and chatbot-first support.
Payfast
B-
Payfast is a Cape Town online payment service for South African businesses, sole traders and registered non-profits, now trading as Payfast by Network after Network International bought its parent, DPO Group, in 2021. Its standard "aggregation" account needs no merchant bank account: Payfast collects payments, holds the money and pays it out to a South African bank account. As of October 2026 it lists 3.2% + R2.00 per card payment and 2% + R2.00 per Instant EFT, all excluding VAT, with R8.70 per standard payout and R2.00 per refund. Businesses processing more than R50,000 a month can ask for custom pricing, and merchants that already have a bank merchant account can use its Paygate gateway at quoted rates. It now also sells card machines, at 2.5% for local cards, R999 or R1,499 per device and R49 a month. The published price list is clear and the checkout supports a long list of local payment methods. Its general terms are tougher than the marketing suggests, though: a 36-month term that renews automatically, wide powers to hold funds for up to 540 days, and a minimum monthly fee for low-volume accounts whose amount is set in the application, not on the website. Recent public reviews are mostly complaints about verification delays and held funds.
VS
Overview
This is a South African comparison in rand, using both providers' published standard prices as of October 2026. Every transaction rate below excludes 15% VAT, which is how both companies quote them. Yoco started with card machines and added online payments. On its free Core plan it charges 2.30% in person on local cards and 2.95% + R2 online, and its online rate and in-person debit rate drop automatically once your three-month average reaches R50,000 a month. Payfast, now trading as Payfast by Network, started online and recently added card machines. It charges 3.2% + R2 on credit cards online (its fee calculator shows 3.5% + R2 for debit cards, a rate its fee table omits) and 2.5% on local cards on its machines. Yoco is cheaper on card payments in both channels, sells its card machine for less with no monthly connectivity fee, pays out for free, and has no fixed-term contract. Payfast charges R8.70 per payout, and its general terms, which also cover its card machines, run for 36 months, although you can leave on 60 days' notice without penalty. Payfast's advantage is choice at checkout. It takes Instant EFT and Capitec Pay at 2% + R2, SnapScan, Zapper and other QR apps, and recurring subscription billing, and Yoco's online gateway offers none of these. Payfast is also cheaper on foreign credit cards online and on larger instant payouts. Payment Review grades Yoco B and Payfast B-.
Key Takeaways
- ✓Yoco is cheaper on local cards online: 2.95% + R2 against Payfast's 3.2% + R2 on credit cards (ex VAT), so a R500 sale costs R16.75 on Yoco and R18.00 on Payfast before VAT. Payfast's calculator shows 3.5% + R2 for debit cards, which would widen the gap.
- ✓Yoco is cheaper in person too: 2.30% against 2.5% on local cards, and local debit drops to 1.35% on Yoco once your rolling monthly average passes R50,000. Payfast's 2.5% does not change with volume.
- ✓Yoco's standard payouts are free and reach your bank two to three business days after the sale. Payfast charges R8.70 ex VAT per payout, after a 48-hour hold and one to two working days at the bank.
- ✓Payfast takes Instant EFT and Capitec Pay (2% + R2), SnapScan, Zapper and recurring subscriptions. Yoco's online gateway takes cards, Apple Pay, Google Pay and buy-now-pay-later only, and does not support recurring billing.
- ✓Yoco has no fixed term. Payfast's general terms, which also govern its card machines, set a 36-month term that renews automatically, though you can end it on 60 days' written notice without penalty.
Yoco
Yoco suits South African shops, cafés, salons, market stalls and service businesses that mainly take cards in person or on a phone, and small online stores that sell by card on Shopify, WooCommerce or Wix. They get lower card rates, free payouts and a card machine with no contract or monthly fee.
Payfast
Payfast suits South African online sellers whose customers want to pay by Instant EFT, Capitec Pay or a QR app, businesses that bill subscriptions, and stores with many foreign credit-card holders. These features outweigh its higher card rate and R8.70 payout fee for them.
The Verdict
It Depends on Your Needs
Why?
For most small South African businesses that take cards, Yoco is the better buy, and Payment Review grades it higher (B against Payfast's B-). It is cheaper on local cards online (2.95% + R2 against 3.2% + R2 on credit cards, and Payfast's calculator shows 3.5% + R2 on debit) and in person (2.30% against 2.5%, and much lower on debit once you pass R50,000 a month). Its card machine is cheaper, with no monthly connectivity fee. Payouts are free, and there is no fixed-term contract. Payfast wins when checkout choice matters more than the card rate. It is the one of the two that takes Instant EFT, Capitec Pay and QR apps, bills subscriptions, and charges less on foreign credit cards online and on larger instant payouts. Choose Yoco for in-person selling and card-only online stores. Choose Payfast for an online store whose customers pay by EFT, or that sells subscriptions.
Feature by feature
Detailed Comparison
Filter Options
Card rates (South Africa, October 2026, excluding VAT)
| Feature | Yoco | Payfast |
|---|---|---|
| Online, local card | 2.95% + R2 (Core); 2.75% + R2 above R50k/month Winner | 3.2% + R2 (credit); debit 3.5% + R2 in calculator |
| Both rates are standard pricing, excluding 15% VAT. Yoco's rate is for its free Core plan. Plus (R249 a month) charges 2.85% + R2 and Pro (R499 a month) 2.80% + R2, and each drops by 0.20 points once your rolling three-month average of monthly sales reaches R50,000. Online and in-person sales count together towards that average. Payfast's fee table lists 3.2% + R2 for credit and cheque cards and for Apple Pay, Google Pay and Samsung Pay, and has no separate debit-card line. Merchants averaging more than R50,000 a month over three months can ask for custom pricing. The fee calculator on the same page prices a separate 'Debit Card' option at 3.5% + R2. The two conflict and Payfast does not explain the difference, so confirm the debit rate before signing. Yoco is cheaper on either reading. On a R500 sale: Yoco R16.75, Payfast R18.00 on a credit card or R19.50 on a debit card at the calculator rate (R19.26, R20.70 and R22.43 including VAT). | ||
| In person, local card | 2.30% (Core); debit 1.35% above R50k/month Winner | 2.5% |
| Both rates exclude VAT and have no fixed per-transaction fee. On Yoco's Core plan, local debit and credit cards both cost 2.30% until your rolling three-month average reaches R50,000 a month. Above that, debit falls to 1.35% and credit stays at 2.30%. Plus charges 2.10% on debit and 2.20% on credit, and Pro 1.95% and 2.15%. Payfast's card-machine page lists 2.5% on local Visa and Mastercard, and 'from 2.5%' on Apple Pay, Samsung Pay and Google Pay depending on the card behind the wallet. On R30,000 a month of in-person card sales the fees come to R690 on Yoco Core and R750 on Payfast, plus Payfast's R49 monthly connectivity fee. | ||
| Online, international card | 3.50% + R2 (Core) | 3.2% + R2 (credit); debit 3.5% + R2 in calculator |
| Yoco charges 3.50% + R2 on international cards and American Express online on Core at any volume (3.40% + R2 on Plus, 3.35% + R2 on Pro). Payfast's fee table lists one card rate, 3.2% + R2, with no surcharge for foreign cards, so it is cheaper on foreign credit cards on every Yoco plan. Its fee calculator, though, prices debit cards at 3.5% + R2, which would make a foreign debit card no cheaper than on Yoco Core and dearer than on Plus or Pro. Because the winner depends on which Payfast figure applies, we name none. Both settle in rand. | ||
| In person, international card | 3.20% (Core); 2.75% above R50k/month | 3% |
| Payfast is cheaper at Yoco's entry tier. Yoco is cheaper once your rolling average passes R50,000 a month, and on its Plus and Pro plans above that threshold (2.65% and 2.60%), so neither wins outright. Both exclude VAT. | ||
| In person, American Express | 3.40% (Core); 3.00% above R50k/month | 2.8% Winner |
| Payfast's card machines charge 2.8% on American Express and UnionPay. Yoco's lowest published Amex rate is 2.85% (Pro, above R50,000), so Payfast is cheaper on every Yoco plan. Both exclude VAT. | ||
Online, local card
Yoco
2.95% + R2 (Core); 2.75% + R2 above R50k/month
Winner
Payfast
3.2% + R2 (credit); debit 3.5% + R2 in calculator
Both rates are standard pricing, excluding 15% VAT. Yoco's rate is for its free Core plan. Plus (R249 a month) charges 2.85% + R2 and Pro (R499 a month) 2.80% + R2, and each drops by 0.20 points once your rolling three-month average of monthly sales reaches R50,000. Online and in-person sales count together towards that average. Payfast's fee table lists 3.2% + R2 for credit and cheque cards and for Apple Pay, Google Pay and Samsung Pay, and has no separate debit-card line. Merchants averaging more than R50,000 a month over three months can ask for custom pricing. The fee calculator on the same page prices a separate 'Debit Card' option at 3.5% + R2. The two conflict and Payfast does not explain the difference, so confirm the debit rate before signing. Yoco is cheaper on either reading. On a R500 sale: Yoco R16.75, Payfast R18.00 on a credit card or R19.50 on a debit card at the calculator rate (R19.26, R20.70 and R22.43 including VAT).
In person, local card
Yoco
2.30% (Core); debit 1.35% above R50k/month
Winner
Payfast
2.5%
Both rates exclude VAT and have no fixed per-transaction fee. On Yoco's Core plan, local debit and credit cards both cost 2.30% until your rolling three-month average reaches R50,000 a month. Above that, debit falls to 1.35% and credit stays at 2.30%. Plus charges 2.10% on debit and 2.20% on credit, and Pro 1.95% and 2.15%. Payfast's card-machine page lists 2.5% on local Visa and Mastercard, and 'from 2.5%' on Apple Pay, Samsung Pay and Google Pay depending on the card behind the wallet. On R30,000 a month of in-person card sales the fees come to R690 on Yoco Core and R750 on Payfast, plus Payfast's R49 monthly connectivity fee.
Online, international card
Yoco
3.50% + R2 (Core)
Payfast
3.2% + R2 (credit); debit 3.5% + R2 in calculator
Yoco charges 3.50% + R2 on international cards and American Express online on Core at any volume (3.40% + R2 on Plus, 3.35% + R2 on Pro). Payfast's fee table lists one card rate, 3.2% + R2, with no surcharge for foreign cards, so it is cheaper on foreign credit cards on every Yoco plan. Its fee calculator, though, prices debit cards at 3.5% + R2, which would make a foreign debit card no cheaper than on Yoco Core and dearer than on Plus or Pro. Because the winner depends on which Payfast figure applies, we name none. Both settle in rand.
In person, international card
Yoco
3.20% (Core); 2.75% above R50k/month
Payfast
3%
Payfast is cheaper at Yoco's entry tier. Yoco is cheaper once your rolling average passes R50,000 a month, and on its Plus and Pro plans above that threshold (2.65% and 2.60%), so neither wins outright. Both exclude VAT.
In person, American Express
Yoco
3.40% (Core); 3.00% above R50k/month
Payfast
2.8%
Winner
Payfast's card machines charge 2.8% on American Express and UnionPay. Yoco's lowest published Amex rate is 2.85% (Pro, above R50,000), so Payfast is cheaper on every Yoco plan. Both exclude VAT.
Best For Your Business
Recommendations based on your business type
Cafés, salons, market stalls and food trucks taking cards in person
Recommended
Yoco
Yoco charges 2.30% against Payfast's 2.5% on local cards (falling to 1.35% on debit above R50,000 a month), its Khumo 2 costs R699 including VAT (discounted from R1,299) with no monthly fee against Payfast's R999 plus R49 a month, payouts are free, and Tap to Pay on iPhone lets you start without a machine.
Online stores whose customers prefer Instant EFT or Capitec Pay
Recommended
Payfast
Payfast takes Instant EFT and Capitec Pay at 2% + R2 ex VAT, well below either provider's card rate, plus SnapScan, Zapper and store cards. Yoco's online gateway takes cards, wallets and buy-now-pay-later only.
Subscription boxes, memberships and other recurring billing
Recommended
Payfast
Payfast offers subscriptions and tokenised recurring card billing. Yoco says its gateway does not support subscriptions or recurring billing.
Small card-only stores on Wix, Shopify or WooCommerce
Recommended
Yoco
Yoco's 2.95% + R2 beats Payfast's 3.2% + R2 on local credit cards (and its calculator's 3.5% + R2 on debit), payouts are free rather than R8.70 each, and Yoco works natively on Wix, which does not offer Payfast.
Online stores selling mainly to foreign credit-card holders
Recommended
Payfast
Payfast's fee table charges its standard 3.2% + R2 on foreign credit cards online, while Yoco charges 3.50% + R2 on Core (3.35% + R2 on Pro). Payfast's calculator prices debit cards at 3.5% + R2, so the saving may not hold for foreign debit cards. Both settle in rand.
Yoco: Best for 2 use cases
Payfast: Best for 3 use cases
Frequently Asked Questions
Common questions about this comparison
On card payments, yes. As of October 2026, Yoco's free Core plan charges 2.95% + R2 on local cards online and 2.30% in person, against Payfast's 3.2% + R2 on credit cards online (its calculator shows 3.5% + R2 for debit cards) and 2.5% on its card machines. All of these rates exclude 15% VAT. Yoco's standard payouts are free, while Payfast charges R8.70 plus VAT per payout. Payfast is cheaper on foreign credit cards online, on American Express in person, and on larger instant payouts (from R1,000 against Yoco Core, and above R1,400 against every Yoco plan). It also offers Instant EFT at 2% + R2, which Yoco does not offer at all.
No. Both quote transaction and payout fees excluding VAT and add 15% VAT on top, so Yoco's 2.30% costs 2.645% in total and Payfast's R8.70 payout fee costs R10.01. Yoco's monthly plan fees (R249 for Plus and R499 for Pro) and its card machine prices are the exception: Yoco says they include VAT. Payfast does not say whether its card machine prices or its R49 monthly connectivity fee include VAT.
Yes. Payfast by Network sells a Digital Card Machine for R999 and a Printer Card Machine for R1,499, each with a R49 monthly connectivity fee. They charge 2.5% on local Visa and Mastercard, 3% on international cards and 2.8% on American Express, excluding VAT. Payfast's website lists no tap-to-pay-on-phone option. Yoco offers Tap to Pay on iPhone.
Not through Yoco. Its online gateway takes Visa, Mastercard, American Express, Apple Pay, Google Pay, Payflex and Happy Pay. The EFT option in Yoco's till app only records bank transfers you receive yourself. Payfast processes Instant EFT and Capitec Pay at 2% + R2 excluding VAT.
Payfast is part of Network International, which bought its parent, DPO Group, in 2021. In 2024 the South African business rebranded to Network, and Payfast became the name of its online payments product, marketed as Payfast by Network. A consortium led by Brookfield took Network International private in September 2024. Yoco is an independent Cape Town company.
Its general terms set a 36-month term that renews automatically for further 36-month periods unless you give notice three months before it ends. These terms also cover its card machines, even though its card-machine pages advertise 'no lock-in contracts'. The same terms let you end the agreement on 60 days' written notice without a penalty. Yoco has no fixed term: you can stop using its payment service at any time, and its POS software needs 30 days' notice to cancel.