If you have a PayFast account with which you can accept payments in your personal capacity (Individual account) but want to use it for a registered business, you can change it to a Business account.
Follow the steps below to upgrade your account:
Log into your PayFast dashboard > Click on the ACCOUNTS tab > Click on red UPGRADE button:
You will now need to fill in some information like ID number, address and bank details. Click the ADD IT button for each section and fill in the required information:
Add your security questions (these are for if you ever forget your password), click UPDATE:
Add your ID number (the ID number of the account holder), click UPDATE:
Add your mobile number (the mobile number of the account holder), click UPDATE:
Add your postal address (if you don’t have one just add your residential address), click UPDATE:
Add your bank details. This is the bank where you will have the funds in your PayFast account paid out to (this account needs to be a South African bank account).
If you are upgrading to a Business account the bank account needs to be your business bank account reflecting the business name.
Add your physical address. If you added this in Step 6 for your Postal address then just retype it here, click UPDATE.
Once you have added all your information you will see green ticks next to each section.
Now, you must choose if you are upgrading to an Individual, Business or Cause account. (It’s helpful to remember what bank account you added in Step 7 to know which account you should have).
(The image above represents someone choosing a business account where they would need to add their Business name and Company Reg. No).
Then you will be able to upload your verification documents.
For the documents you need to upload please see this Getting Started Guide:https://support.payfast.co.za/article/112-step-2-verify-your-payfast-account
You can upload these FICA documents on your PayFast dashboard under the ACCOUNT tab > Click the red UPLOAD DOCUMENTS button.