How to set up a PayFast account for online transactions on your online shop

Guide for [Your Designated Applicant]: Applying for a Payfast Account for [Your Company]

This guide will walk you through the process of applying for a Payfast account for [Your Company]. Ensure you have all necessary documents and information ready before starting.

Estimated Time: 30-60 minutes (initial application), plus time for document verification by Payfast.

What you'll need:

• Company Information:

  • Registered Company Name: [Your Company]

  • Company Registration Number (CIPC/CIPRO)

  • VAT Number (if applicable)

  • Physical Address of the Company

  • Contact Person details (your details, as the designated applicant)

  • Company Bank Account details (Bank Name, Account Holder Name, Account Number, Branch Code)

• Director/Owner Information (Your Information, as the designated applicant):

  • Full Name

  • South African ID Number

  • Date of Birth

  • Residential Address

  • Contact Number

  • Email Address

• Website Information:

  • Website URL: [Your Website URL - e.g., yourdomain.com]

  • Description of Products/Services ([e.g., Perfumes, Electronics, Services])

  • Clear Return/Refund Policy and Shipping Policy ready to be displayed on the website.

• Supporting Documents (Digital Copies - PDF or JPG preferred):

  • Proof of Company Registration: CIPC document (e.g., COR14.3, COR39)

  • Proof of Company Bank Account: Latest bank statement (no older than 3 months) or a letter from the bank confirming account details.

  • Proof of Business Address: Utility bill, lease agreement, etc. (no older than 3 months)

  • Proof of ID for Director/Owner ([Your Name]): Clear copy of your South African ID document.

  • Proof of Residential Address for Director/Owner ([Your Name]): Utility bill, bank statement, etc. (no older than 3 months)

Step-by-Step Application Process:

1. Visit the Payfast Website:

   • Go to the official Payfast website: https://www.payfast.co.za/

2. Click "Sign Up" or "Create Account":

   • Look for a button or link that says "Sign Up," "Create Account," or "Get Started."

3. Choose Account Type: Business Account:

   • Payfast offers different account types. Select "Business" or "Company" account. This is crucial for [Your Company].

4. Enter Initial Details:

   • Email Address: Use a professional email address for [Your Company] (e.g., info@[yourcompany.co.za] or your work email).

   • Password: Create a strong, unique password.

   • Country: South Africa

5. Complete the Application Form - Section by Section:

   • Personal Details (Your Details, as the designated applicant):

     • Full Name

     • ID Number

     • Date of Birth

     • Residential Address

     • Contact Number

     • Email Address (this might be pre-filled)

   • Business Details ([Your Company]):

     • Business Name: [Your Company]

     • Business Type: (Pty) Ltd / Sole Proprietor / CC / Trust (select applicable)

     • Registration Number: Enter the CIPC company registration number (if applicable).

     • VAT Number: If [Your Company] is VAT registered, enter the number. If not, leave blank or select "Not VAT Registered."

     • Business Address: The registered physical address of [Your Company].

     • Website URL: [Your Website URL - e.g., yourdomain.com] (You can add a note if it's a development site).

     • Nature of Business: [Brief description of your products/services, e.g., Online retail of perfumes.]

   • Banking Details:

     • Bank Name: (e.g., FNB, Standard Bank, Absa, Nedbank)

     • Account Holder Name: [Your Company]

     • Account Number:

     • Branch Code:

     • Account Type: Cheque/Current Account

   • Documents Upload:

     • Carefully upload all the required supporting documents in the specified format (PDF, JPG).

       • Proof of Company Registration (CIPC)

       • Proof of Company Bank Account

       • Proof of Business Address

       • Proof of ID for Director/Owner ([Your Name])

       • Proof of Residential Address for Director/Owner ([Your Name])

   • Website Information & Policies:

     • Payfast will ask about your website's products/services and your policies. Be prepared to explain your business.

     • Crucially, ensure you have clear Return/Refund Policies and Shipping Policies drafted and ready to be placed on your [Your Website URL] website. Payfast requires these to be visible for account activation.

6. Review and Submit:

   • Before submitting, carefully review all the information you've entered to ensure accuracy.

   • Read and agree to Payfast's Terms and Conditions.

   • Click "Submit Application."

7. Email Verification:

   • Payfast will send an email to the registered email address to verify your email. Click the link in the email to complete this step.

8. Waiting for Verification & Activation:

   • Once submitted, Payfast's compliance team will review your application and documents. This process can take a few business days.

   • They may contact you via email or phone if they require additional information or clarification.

   • You will receive an email notification once your account is verified and activated.

Important Notes for [Your Designated Applicant]:

• Honesty and Accuracy: Provide accurate and truthful information. Any discrepancies can delay or lead to the rejection of your application.

• Document Quality: Ensure all scanned documents are clear, legible, and within the specified age limits (e.g., proof of address not older than 3 months).

• Website Readiness: While [Your Website URL] might be a dev site, it's beneficial if it looks reasonably complete with placeholder products and, most importantly, the Return/Refund Policy and Shipping Policy clearly visible. Payfast often checks the website as part of their approval process.

• Communication: Check your email regularly, including your spam folder, for communications from Payfast.