Have a few questions? Here are some of the common ones we get asked.
How do I get started?
Sign in with Xero, connect your payment provider (such as Netcash or Ecentric), complete a quick KYC/FICA check and configure your contacts. Most businesses are live within a day.
Is the system suitable for my business?
Paycycle is ideal if you have an SME and want to cut down on your admin while increasing your cash flow. It is not suited to gambling businesses with high chargebacks, or to e-commerce that requires fast dispatch, since some payment methods can take a few days to clear.
Do I need a payment provider account?
Yes. Collections and payouts run through a payment provider such as Netcash or Ecentric. You can connect an existing account, or we'll help you set one up during onboarding.
Is the transaction cost included in my subscription?
No. Your subscription cost does not include the transaction cost charged by the payment gateway, and prices exclude VAT and bank charges.
What accounting systems does Paycycle support?
Currently we support Xero, but we will be adding more accounting systems soon.
What payment methods does Paycycle support?
We support debit orders, EFT, PayShap, DebiCheck and card payments, handled behind the scenes through providers like Netcash and Ecentric, with more being added over time.
Does Paycycle create invoices?
Paycycle does not create invoices. It is not a billing engine. It uses invoice data from your accounting system or integrated third-party billing systems.
Can I link multiple companies on my Paycycle account?
Yes, our system supports multiple companies, each with their own setup and accounting settings.
Does Paycycle hold any money?
No. Paycycle never holds your money. Funds settle directly through your own payment provider account.
How is personal information protected?
Your personal information, your card details and those of your customers are never stored on the system. Information is tokenised in line with PCI-DSS standards, secured with bank-grade encryption, and handled in line with POPIA.
Do I need to verify my business (KYC)?
Yes. To activate mandated collections (debit orders) you'll complete a once-off KYC/FICA check, a regulatory requirement in South Africa. We guide you through it during onboarding, and it's usually verified within a day.
How does pricing work?
Take just the module you need (Pay Now, Collections or Supplier Payments) from R285 per month, or go all-inclusive from R1 450 per month, which includes up to 50 collections and is tiered by volume above that. All prices exclude VAT and bank charges.
Do my customers need to set up a new beneficiary?
No. There's no new beneficiary setup for your customers. Paycycle handles the payment rail behind the scenes once a mandate is approved.
Still have questions?
Our team is happy to help you get set up and answer anything that isn't covered here.
