Gross volume
R27.74bn
across 12 partners, 12 months
Net settlement
R26.40bn
after fees & interchange
Take rate
2.91%
blended merchant fee
Largest partner
Yoco
R9.6bn · 35% of volume
Avg chargeback ratio
0.14%
across all partners
Volume trend · 12 months
Top 6 partners by volume, one line each. Colours match the allocation legend below.
Black Friday (Nov) and festive-season (Dec) seasonality is applied uniformly across partners.
Volume share & economics
Gross volume by partner
Yoco34.5%R9.6bn
iKhokha14.2%R3.9bn
PayFast8.3%R2.3bn
Ozow8.1%R2.3bn
Kazang7.1%R2.0bn
Mukuru6.2%R1.7bn
Adumo6.0%R1.7bn
SnapScan4.9%R1.4bn
Zapper3.8%R1.1bn
PayGate3.4%R950.7m
Peach Payments2.6%R731.8m
Stitch0.8%R220.2m
Fee rate vs merchant growth
Cheaper rails (instant EFT, open banking) tend to grow merchant count faster
than higher-MDR card acquiring — visible as points trending up-left.
Partner comparison
| Partner | Gross volume | MDR | Fee income | Transactions | Active merchants | Merchant growth | Chargeback % | |
|---|---|---|---|---|---|---|---|---|
| 🟥 | YocoFT001 · POS Card Acquiring | R9.6bn | 2.95% | R282.5m | 11,180,754 | 267,650 | +8.2% | 0.13% |
| 💳 | iKhokhaFT008 · POS Card Acquiring | R3.9bn | 2.75% | R108.6m | 6,447,687 | 140,500 | +9.4% | 0.14% |
| 🛒 | PayFastFT003 · Online Payment Gateway | R2.3bn | 3.50% | R81.1m | 1,851,734 | 48,410 | +9.7% | 0.20% |
| ⚡ | OzowFT006 · Instant EFT Gateway | R2.3bn | 1.50% | R33.8m | 3,126,552 | 31,120 | +12.8% | 0.08% |
| 🏪 | KazangFT010 · Prepaid & Bill Payment Terminal | R2.0bn | 3.20% | R62.7m | 23,174,650 | 69,580 | +8.2% | 0.03% |
| 🌍 | MukuruFT012 · Cross-Border Remittance | R1.7bn | 4.50% | R77.1m | 1,157,635 | 5,102 | +15.4% | 0.22% |
| 🖥️ | AdumoFT011 · POS Card Acquiring | R1.7bn | 2.85% | R47.4m | 2,323,450 | 41,680 | +11.1% | 0.18% |
| 📱 | SnapScanFT002 · QR Code Payment | R1.4bn | 2.75% | R37.3m | 3,991,428 | 85,290 | +7.6% | 0.15% |
| 🍽️ | ZapperFT007 · QR Code Payment | R1.1bn | 2.60% | R27.4m | 3,524,738 | 44,510 | +6.9% | 0.15% |
| 🏦 | PayGateFT005 · Online Payment Gateway | R950.7m | 2.80% | R26.6m | 502,817 | 8,940 | +14.0% | 0.20% |
| 🔗 | Peach PaymentsFT004 · Online Payment Gateway | R731.8m | 2.90% | R21.2m | 746,540 | 13,605 | +16.5% | 0.20% |
| 🔌 | StitchFT009 · Open Banking / Payments API | R220.2m | 1.20% | R2.6m | 102,844 | 3,645 | +15.7% | 0.04% |
Click a partner name to jump to its detail card below. Fee income is what the
partner pays Prime Capital Bank for acquiring/gateway services — the revenue line this business
contributes, separate from net settlement (what flows back to the partner after fees).
Partner profiles
🟥
Yoco · FT001
POS Card Acquiring · SME · Cape Town, Western Cape · est. 2013 · Yoco Technologies
SAs largest independent payment provider. Card machines: Yoco Go (R599), Yoco Khumo (R699), Yoco Neo (R1499), Yoco Counter+Neo Touch (R2999). Raised USD83M Series C (2021). 250K+ merchants in retail, hospitality, and services.
R9.6bnGross volume (12m)
2.95%MDR
R282.5mFee income
267,650Active merchants
+8.2%Merchant growth (12m)
0.13%Chargeback ratio
💳
iKhokha · FT008
POS Card Acquiring · SME · Durban, KwaZulu-Natal · est. 2012 · iKhokha (Pty) Ltd
Card-machine acquirer competing directly with Yoco in the SME segment, strongest outside the Western Cape. Bundles working-capital advances against processing history — a direct input to PCB's SME credit scoring where iKhokha cash flow is used as alt-data.
R3.9bnGross volume (12m)
2.75%MDR
R108.6mFee income
140,500Active merchants
+9.4%Merchant growth (12m)
0.14%Chargeback ratio
🛒
PayFast · FT003
Online Payment Gateway · E-Commerce · Cape Town, Western Cape · est. 2007 · DPO Group (Network International)
SAs most widely used online gateway. Supports 20+ payment methods including instant EFT, credit/debit cards, Mobicred, and Zapper. Critical for e-commerce with Takealot Marketplace integration. Acquired by DPO Group (2021).
R2.3bnGross volume (12m)
3.50%MDR
R81.1mFee income
48,410Active merchants
+9.7%Merchant growth (12m)
0.20%Chargeback ratio
⚡
Ozow · FT006
Instant EFT Gateway · E-Commerce · Cape Town, Western Cape · est. 2015 · Ozow (Pty) Ltd
Instant EFT gateway — customer authorises payment directly in their own banking app, no card details captured. Lower merchant fees than card acquiring since it bypasses interchange. Strong in gaming, utilities, and airtime/data top-up.
R2.3bnGross volume (12m)
1.50%MDR
R33.8mFee income
31,120Active merchants
+12.8%Merchant growth (12m)
0.08%Chargeback ratio
🏪
Kazang · FT010
Prepaid & Bill Payment Terminal · Informal Trader · Johannesburg, Gauteng · est. 2007 · Blue Label Telecoms
Prepaid airtime, electricity and bill-payment terminal network reaching spaza shops and informal traders that card acquirers rarely reach. High transaction count, very low average basket — the transaction-count outlier of the twelve partners.
R2.0bnGross volume (12m)
3.20%MDR
R62.7mFee income
69,580Active merchants
+8.2%Merchant growth (12m)
0.03%Chargeback ratio
🌍
Mukuru · FT012
Cross-Border Remittance · Remittance / Consumer · Cape Town, Western Cape · est. 2004 · Mukuru Africa
Cross-border remittance for the SADC migrant-worker corridor — cash-in at an agent or the app, cash-out in Zimbabwe, Mozambique, Malawi and other regional destinations. Highest fee rate of the twelve, reflecting FX conversion and cross-border compliance cost.
R1.7bnGross volume (12m)
4.50%MDR
R77.1mFee income
5,102Active merchants
+15.4%Merchant growth (12m)
0.22%Chargeback ratio
🖥️
Adumo · FT011
POS Card Acquiring · SME and Enterprise · Johannesburg, Gauteng · est. 2019 · Adumo Holdings
Payment technology group formed from the merger of several legacy SA acquirers (including SwitchPay and iVeri), spanning in-store card machines and online gateway under one brand.
R1.7bnGross volume (12m)
2.85%MDR
R47.4mFee income
41,680Active merchants
+11.1%Merchant growth (12m)
0.18%Chargeback ratio
📱
SnapScan · FT002
QR Code Payment · SME and Consumer · Cape Town, Western Cape · est. 2012 · Standard Bank Group
Acquired by Standard Bank (2014). QR-code payments — no card machine required. Popular in restaurants, markets, pop-up stores, and events. Competes directly with Yoco for the SME hospitality segment.
R1.4bnGross volume (12m)
2.75%MDR
R37.3mFee income
85,290Active merchants
+7.6%Merchant growth (12m)
0.15%Chargeback ratio
🍽️
Zapper · FT007
QR Code Payment · SME and Consumer · Cape Town, Western Cape · est. 2013 · Zapper (Pty) Ltd
One of SAs original QR-code payment apps. Also processes loyalty and voucher redemption alongside payment, positioning it as an engagement layer for retail and QSR chains rather than a pure acquirer.
R1.1bnGross volume (12m)
2.60%MDR
R27.4mFee income
44,510Active merchants
+6.9%Merchant growth (12m)
0.15%Chargeback ratio
🏦
PayGate · FT005
Online Payment Gateway · Enterprise E-Commerce · Johannesburg, Gauteng · est. 2000 · DPO Group (Network International)
One of SAs oldest gateways (est. 2000). Enterprise merchants including large retailers, travel agencies, and government e-services. Strong in recurring billing. Complementary to PayFast in the DPO portfolio.
R950.7mGross volume (12m)
2.80%MDR
R26.6mFee income
8,940Active merchants
+14.0%Merchant growth (12m)
0.20%Chargeback ratio
🔗
Peach Payments · FT004
Online Payment Gateway · Mid-Market E-Commerce · Cape Town, Western Cape · est. 2012 · Peach Payments (Pty) Ltd
API-first developer-friendly gateway. Serves mid-to-large merchants including Superbalist and OneDayOnly. Supports 3D Secure 2.0, tokenisation, and recurring billing. Growing in B2B SaaS vertical.
R731.8mGross volume (12m)
2.90%MDR
R21.2mFee income
13,605Active merchants
+16.5%Merchant growth (12m)
0.20%Chargeback ratio
🔌
Stitch · FT009
Open Banking / Payments API · Developer / Enterprise · Cape Town, Western Cape · est. 2020 · Stitch Money (Pty) Ltd
Open-banking infrastructure: pay-by-bank, account verification and recurring debit orders via direct bank API connections rather than card rails. Smallest merchant base of the twelve but highest average transaction size — used mainly for high-value B2B and subscription flows.
R220.2mGross volume (12m)
1.20%MDR
R2.6mFee income
3,645Active merchants
+15.7%Merchant growth (12m)
0.04%Chargeback ratio