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How much does Masterpass cost?

Merchant fees would be negotiated between the merchant and Nedbank. You may incur additional costs to implement Masterpass for online or in-app purchases.

How do I become a merchant?

There is a Masterpass agreement stipulating the terms and conditions that you would be required to sign. If you are new to Nedbank merchant services, the FICA process is applicable.

When will my bank account be settled?

We settle every account daily (except on Sundays and public holidays). If your settlement account is a Nedbank account, your money should be paid into your account by the next day. For non-Nedbank accounts the normal interbank settlement rules will apply, which means the money should be in your account within two working days.

How many QR codes can I have?

You can have as many QR codes as you require. These can be set up with unique references for ease of reconciliation.

Can I still receive tips when customers pay with Masterpass?

Yes. This is easy to set up and it can be done at the onset or requested at a later stage.

Can my customers pay me with the Zapper or Snapscan apps?

Customers with the Masterpass app are currently able to scan and pay a Snapscan QR code. Capability for a Snapscan wallet to scan a Masterpass QR code is imminent. Zapper is not yet available.

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