Key Benefits
Third-party collections for international enterprises
Collect via Open Banking or EFT.
No local entity or bank account required.
Track and allocate funds in real time via the FiveWest portal.
Supported by a comprehensive regulatory stack enabling licensed collections in South Africa and onward global settlement
Collections from 0.2% per transaction
Getting started
How it works
01.
Collect
Collect via Open banking or EFT into your designated FiveWest collection account. No bank account required.
02.
Allocate
Collected funds are reflected on the FiveWest Portal. Choose to allocate funds to designated sub-wallets or aggregate into your primary wallet.
03.
Convert or settle
Once allocated, ZAR can be converted to USDT or supported digital assets, or settled onward in your currency of choice.
FAQs
Frequently Asked Questions
Learn more about ZAR Collections.
What types of businesses use FiveWest ZAR Collections?
Primarily PSPs and international merchants that need a licensed way to accept ZAR deposits from South African customers and end-users without setting up a local entity or bank account.
Why does collecting ZAR require a TPPP licence?
In South Africa, if you're collecting on behalf of your customers, you’re collecting as a ‘theird party,’ which falls under PASA's Third-Party Payment Provider framework. FiveWest holds this licence, so you don't need to hold it yourself or route the flow through a local bank account.
Do I have to convert collected funds immediately, or can I hold them?
You can hold collected funds in your FiveWest wallet or convert to USDT (or another supported digital asset) when it suits you. Allocation and conversion timing are both configurable. Speak to our team if you have specific treasury requirements around timing.
What documentation is available for compliance purposes?
Every deposit is reflected on the FiveWest Portal with a complete transaction record. FiveWest operates as a primary FIC accountable institution and compliance documentation is built into our infrastructure. If your compliance team has specific reporting requirements, contact us before onboarding.
Which currencies can I collect in with FiveWest?
FiveWest's TPPP license enables PSPs and local merchants to receive South African Rand (ZAR). If you’re interested in receiving USD, GBP, EUR, or AED, speak to our team.
What methods does FiveWest support for inbound payments?
FiveWest supports Collections via Open Banking and EFT.
