FNB has announced lower commission rates and a simplified pricing structure for its Speedpoint card payment terminals, with all existing merchants automatically moving onto the new rates.
The bank said at a media event in Johannesburg on Tuesday that its revised commission model is designed so that businesses pay less as their transaction volumes grow. Rates for FNB-banked merchants start at 1.8% for both debit and credit card transactions, falling to as low as 0.6% on debit and 1.6% on credit at higher volumes. Non-banked merchants pay slightly more, with rates starting at 2.1% and falling to 0.9% on debit and 1.8% on credit.
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The pricing changes are part of a broader repositioning of Speedpoint as a business operations platform rather than simply a payment acceptance tool. FNB said the terminals now include prepaid product sales, voucher and ticket sales, real-time sales and stock visibility, and online selling tools as well as access to FNB Cash Advance — a working capital facility linked to trading performance.
Repayments on Cash Advance are structured as a portion of daily sales processed through Speedpoint devices — essentially a revenue-based financing model. FNB said 65% of Cash Advance payouts since launch have been under R100 000, with 31% going to businesses with annual turnover below R1-million.
The Speedpoint device range now spans four tiers:
- Speedpoint Go: R699 to buy or R230/month to rent
- Speedpoint Pro: R1 499 to buy or R320/month to rent
- Speedpoint Tablet: R4 999 to buy or R500/month to rent
- Speedpoint Counter: R7 499 to buy or R920/month to rent
FNB Business CEO Ghana Msibi said SMEs need certainty rather than complexity. “Pricing must be clear, settlement must be predictable, and the tools must help businesses run better and earn more,” she said.
To lower the barrier to entry, FNB offers First Business Zero, an account with no monthly fees aimed at sole proprietors and start-ups. A step-up option, Business Gold Aspire, is priced at R49/month and aimed at township and micro-businesses moving into more formalised trading, the bank said. — (c) 2026 NewsCentral Media
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