Instruction on how to pay your account using the Payfast payment facility.
(This is NOT a debit order)
YBO has recently implemented the Payfast Payment Gateway. We kindly request that you convert the current EFT payment method used to the new gateway payments as soon as possible.
We have 2 options :
- Manual Payment – Using this method, you have to initiate the payment monthly – this requires action on your side
- Automatic (recurring) Payment – You setup the payment once, and then the payment is drawn from your account monthly on the due date (Please note – this is not a debit order and you can manage the payment via your Payfast account – see details below on how to cancel recurring payments)
The primary reason for the introduction of the Gateway is to speed up the time that payment is acknowledged. In the past EFT’s would have to be manually captured and recorded against the invoice. Typically, it takes a day or 2 (Sometimes longer with Standard Bank EFT’s) for your payments to reflect in YBO’s bank account and then another day for capturing the payment against the relevant invoice/invoices. This time delay has resulted in the unnecessary interruption to some clients services due to the the inefficiency of recording the payments received.
With the Payfast Gateway, your payment reflects in our system instantly and eliminates the need for manual capturing of payments received.
How to set up manual payments to Your Business Online
You will receive your monthly invoice 11 days prior to the due date (monthly invoices are payable on the 1st of the month)
In the body of the email, you will note a link, for example
Click on the link and you will be taken to the invoice.
Click on PAY NOW (if you DO NOT want automatic payments)
You will now be taken to the screen where you have various options to pay the invoice
Select your preferred method of payment.
If you select the instant EFT option, you will be prompted to login to your bank and initiate the EFT
We highly recommend that you also ‘register’ an account with Payfast so that you can make the monthly manual payment process easier and more efficient. By registering your account, you can lodge your card details and not have to re-enter each time you initiate a payment)