The best payment links providers for your small business in South Africa

Payment links have emerged as a game-changer, allowing you to securely request and receive payments from anywhere using your phone. Plus it allows your customers to pay you on the move, so they can get it done quickly and easily. But with so many providers in South Africa, choosing the right one can be tricky. Here’s a dive deep into the top payment link providers, their features, the benefits, some drawbacks, and how to pick the best fit for your business needs.

Understanding payment links

A payment URL is a secure link you can send to customers via Email, WhatsApp, or DM. These links enable customers to pay you directly from their mobile devices or computers. When you signup with one of the payment providers below, you will connect your existing bank account to their systems which then give you the ability to create payment links or have a dedicated payment page for your business. It’s a game changer. Gone are the days of setting up an expensive eCommerce store, or navigating the merchant account setup process with your bank.

There are different types of payment links which we will explain. Their simplicity and versatility lie in sharing them via various channels like WhatsApp, SMS, email, social media, websites, or even in-person, eliminating complex invoicing processes. Read more about what payment links are in our blog.

Our breakdown of the top South African payment link providers, their positives, what you need to know and best uses:

Types of payment links:

• Once-off/single-use payment links (they expire once used)

• Multi-use payment links (These don’t expire after use)

Features of payment links

• Create a link for a specific amount and customer eg: Gigi Lamayne, R500.00

• Allow customers to add a reference

• Add delivery fee

• Add tip amount

The top payment link providers in South Africa are:

• iKhokha

• Yoco

• SnapScan

• Peach Payments

• Paystack

• WigWag

1. Yoco

Benefits:

• Ideal for single-use links, specific and open amounts, as well as mobile payments.

• Integrates seamlessly with Yoco card machine – POS (Point of Sales) for existing users.

Things to know about Yoco payment links:

• Unclear on whether Yoco offers true multi-use links where a single link accepts multiple payments. You might need to create multiple links for recurring transactions.
• Pricing is higher compared to some competitors (iKhokha).

Best for: Businesses already using Yoco POS, freelancers, service providers requiring quick and easy payments. This is an easy win if you’re already a Yoco user.

Read more about Yoco payment links here: https://www.yoco.com/za/payment-link/

2. iKhokha:

Benefits:

• User-friendly app for creating and managing payment links.

• Offers single-use and multi-use links with specific amounts or open for customer input.

• Integrates with other iKhokha solutions like card machines and point-of-sale systems for a comprehensive payment ecosystem.

• Competitive transaction fees, especially for larger volumes.

Things to know about iKhokha payment links:

• Brand recognition might be lower compared to some competitors.

• Limited customisation options for payment links compared to Peach Payments.

Best for: Businesses looking for a user-friendly and affordable payment link solution, particularly those already using iKhokha POS systems. Also an easy win if you’re already an iK member!

Read more about iK’s payment links here: https://www.ikhokha.com/pay-link

3. SnapScan:

Benefits:

• Widely used mobile payment app in South Africa, offering a seamless payment experience (known for QR codes).

• Provides single-use and multi-use links with multiple payment options (SnapScan app, cards, EFT).

• Allows for customisable link branding and real-time payment notifications.

Things to know about SnapScan payment links:

• Relies on customers having the SnapScan app installed for in-app payments.

• SnapLinks are very simple and do not offer a lot of customisation.

Best for: Businesses that want to leverage SnapScan’s other products and offer a variety of payment options.

Read more about SnapLinks payment links here: https://products.snapscan.co.za/snaplink/

4. Peach Payments:

Benefits:

• Comprehensive solution for online and in-person payments.

• Offers customizable product descriptions and images for Peach Pay Links.

• Includes multiple payment options (cards, EFT) and recurring payment links for subscriptions.

• Integrates with Peach's e-commerce and point-of-sale solutions for a unified experience.

Things to know about Peach payment links:

• Might have a steeper learning curve compared to simpler payment link providers.

• Pricing is less competitive for low-volume businesses.

Best for: Established businesses with online stores or a mix of online and in-person sales that need a feature-rich solution.

Find out more about Peach Payment links here: https://www.peachpayments.com/products/payment-links

5. Paystack

Benefits:

• Popular choice for online businesses in Africa.

• Offers single-use and multi-use links with specific/open amounts and multiple payment options (cards, mobile money).

• Allows for customizable link branding and messaging.

• Integrate with Apple Pay to give your customers even easier payment options.

Things to know about Paystack payment links:

• Limited presence in physical in-store payments compared to SnapScan, Yoco or iKhokha.

• Mobile money payment options might not be relevant for all South African customers.

Best for: Primarily online businesses that need a versatile payment link solution with mobile money integration.

6. WigWag (from Stitch)

Benefits:

• Integrations: Integrates effortlessly with various platforms like Webflow, Squarespace and Shopify (coming soon) for an easy integration experience.

• Pricing: No fixed fees, only a transaction percentage. Local transactions (South African cards) incur a 2.95% fee, while international cards have a 3.4% fee (all excluding VAT). This clear fee structure allows for easy cost-planning.

• Payment buttons (coming soon): A simple payment link that’ll fit right in with your Savvy Site.

WigWag features:

• WigWag AI Whatsapp assistant: (Early access signup available) Manage payments directly through Whatsapp chat - ideal for added convenience when managing transactions on the go.

• Volume discounts: Businesses processing over R200,000 per month can contact WigWag for custom pricing options. High-volume businesses can potentially benefit from reduced transaction fees.

• Backed by Stitch: WigWag is backed by Stitch, a reputable payment provider trusted by companies like MTN, Quicket, Cell C, TripCo, and Zapper. This association offers peace of mind knowing WigWag is supported by a reliable fintech company.

Things to know:

• Limited brand awareness: Compared to established players, WigWag might have lower recognition in South Africa.

• Focus on developers: Their platform might be less user-friendly for non-technical users compared to simpler providers.

• Challenging integration: WigWag API requires some coding which, if you do not have experience in, we recommend sticking with simple payment links to copy and paste into your product buttons.

Best for:

• E-commerce businesses with a website or online store seeking seamless integration.

• Businesses processing high transaction volumes and looking for competitive pricing.

• Businesses seeking additional convenience with the WigWag AI Whatsapp Assistant (early access).

So, we’ve covered all the providers and their uses, but you might still feel a bit lost when wanting to choose a payment provider. An important thing to remember is that it must best suit your business needs, if that’s cost, or integration with existing systems, you’ll find a provider that will work for you. One thing to remember is that you’re most likely going to be in good hands, but make sure you have someone to talk to from the company to make sure you’re getting the most out of your payment provider.

Now, time to choose.

Choosing the right provider

Here are some factors to consider when making your decision:

• Business needs: Do you need single-use or multi-use links? Specific amounts or open payments? Do you need in-person or online payment options?

• Features: Compare features like mobile optimization, customization options, integration capabilities, and analytics.

• Pricing: Compare pricing models (transaction fees, monthly fees) based on your transaction volume.

• Customer support: Reliable customer support is crucial for troubleshooting any payment issues.

• Security: Ensure the provider offers secure and PCI-compliant payment processing.

Following these tips and understanding the strengths and weaknesses of each provider, you can choose the payment link solution that best fits your business and helps you get paid on time, every time.

Savvy offers these payment link providers and more. We will be adding Peach and SnapLinks as well. For your convenience and your Savvy Site, when adding a payment link to a product the editor will add the provider that payment link is from. So you look professional and trusted by using these South African payment link options.

So, go make the most of what South African fintech has to offer and use them on your site today!