Yoco

Yoco launched its mobile card acceptance offering in 2015 with an affordable pay-per-use transaction pricing model. The company’s no fixed monthly rental fee appealed to smaller merchants that previously could not afford traditional card terminals.

To start accepting card payments, business owners can connect the Yoco card reader to their Android/iOS smartphones or tablets. The hardware is paired with a comprehensive Point of Sale (POS) application and business intelligence portal to give businesses real-time access to sales insights and analytics.

In 2018 Yoco launched The Yoco Payment Gateway, a solution that enables business owners to accept payments on their WooCommerce or Wix e-commerce websites. Entrepreneurs can add the plugin to their site and activate Yoco as a payment option. 

They deliver their card machines for free in South Africa in three business days.

• Card machines – They offer four card machine options, the Yoco Go, Yoco Neo, Yoco Khumo and Khumo Print. All machines accept all major cards. All machines come with access to their business portal.
• Cash Advances  – Merchants are prequalified for a cash advance, which can be used to buy stock or equipment and can be accessed online. You need to be a Yoco merchant for at least three months to qualify for Yoco Capital. The cash advance is paid off with a percentage of every sale through Yoco.
• Yoco App –  Run your business from your phone. You can view and track your sales history or access your business and account data in your online business portal. Users can create sales, see their transaction history and track business performance on the app. You are also able to add discounts for customers, send digital receipts via email or SMS, and manage refunds and chargebacks directly from the app.
• Yoco Link – For businesses without a website, Yoco Link allows businesses to get paid online through a link sent to a customer in a chat, email or on social media.
• Yoco Gateway – Accept card payments on your website. The gateway is compatible with WordPress, WooCommerce, Wix and Shopstar.

Yoco has a pay-per-use transaction pricing model with no fixed monthly rental fees.

Fees are however paid on each transaction made and decrease as the volume of the transaction increases, therefore the more you sell, the less you pay.

Card machine fees are from between 2.50% – 3% (ex. VAT). Online fees range from  2.55% to 3% (ex. VAT).

Card machine pricing:

• Yoco Go – R749 once-off + R2.50 payout per use + 2.95% transaction fee (applies after R5000 in sales or 3 months passes)
• Yoco Neo touch – R999 once-off + R49/month connectivity fee
• Yoco Khumo – R1299 once-off + R49/month connectivity fee
• Khumo Print – R1999 once-off + R49/month connectivity fee