Yoco and iKhokha are South Africa’s two best-known card machine providers for small businesses. Neither charges monthly rental on its card machines. On published rates for in-person local cards, Yoco’s no-monthly-fee Core plan starts at 2.30% (excl. VAT) against iKhokha’s 2.75%, and Yoco does not charge for standard payouts, while iKhokha charges R2.50 per daily settlement. iKhokha settles same day for Nedbank customers. Which one is cheaper for you depends on your monthly card turnover, the cards your customers use and how quickly you need your money. Last updated: October 2026.
Below we compare the two on fees, card machines, payouts, online payments and funding, using each company’s own published pricing. Both companies change their pricing from time to time, so confirm the rates on Yoco’s pricing page and iKhokha’s pricing page before you sign up.
What is Yoco?
Local fintech company Yoco has been running since 2015. It started with a pay-per-use card machine for small merchants and now offers card machines, tap to pay on a phone, a point-of-sale app, payment links, an online payment gateway and cash advances. Yoco has a no-monthly-fee plan (Core) and paid plans with lower transaction rates (Pro and Plus).
What is iKhokha?
iKhokha has been in operation since 2012 and offers card machines, tap on phone, payment links, online payments and cash advances. Its machines and app also let merchants sell prepaid products such as airtime and electricity. Nedbank completed its acquisition of iKhokha with effect from 1 December 2025, and iKhokha continues to trade under its own brand. Read more in our report on Nedbank’s acquisition of iKhokha.
Fees: Yoco vs iKhokha
These are the published rates for in-person payments with local cards, excluding VAT, by monthly card turnover:
| Monthly card turnover | Yoco Core (no monthly fee) | Yoco Pro (R499 a month) | iKhokha |
|---|---|---|---|
| Up to R40,000 | 2.30% | 2.03% | 2.75% |
| R40,000 to R50,000 | 2.30% | 2.03% | 2.65% |
| R50,000 to R60,000 | 1.73% | 1.58% | 2.65% |
| R60,000 to R80,000 | 1.73% | 1.58% | 2.55% |
| R80,000 to R100,000 | 1.73% | 1.58% | 2.50% |
| Higher turnover | Custom rate | Custom rate | Custom rate above R100,000 |
Sources: Yoco’s pricing page (rates checked by Yoco in August 2026) and iKhokha’s pricing page, both read in October 2026. A few details matter when you compare them:
- Yoco’s lower band is a blend. On Core, local debit and credit cards both cost 2.30% up to R50,000. Above R50,000, local debit cards drop to 1.35% while local credit cards stay at 2.30%. The 1.73% in Yoco’s table matches a mix of 60% debit and 40% credit cards, so your own rate depends on your customers’ cards.
- International and Amex cards cost more. iKhokha publishes 3.25% for international cards and 3.4% for Amex in person. Yoco says its international, Amex and online rates differ from the table but does not list them on its pricing page.
- Payout fees. Yoco says standard payouts carry no fee, and Pro includes next-day payouts at no extra cost. Faster payouts on Core carry a fee. iKhokha charges R2.50 for each daily settlement into your account, whatever the amount.
- Online payments. iKhokha charges 2.85% for local cards and 2% for Instant EFT on payment links and online payments.
What a month would cost: two examples
To show how the rates play out, here are two illustrative months of in-person sales on local cards, with each month’s turnover charged at its band’s rate, 21 payouts a month, excluding VAT and before the cost of the machine. Your real costs will differ with your card mix and turnover.
| Monthly card sales | Yoco Core | Yoco Pro (incl. R499 fee) | iKhokha (incl. R2.50 x 21 payouts) |
|---|---|---|---|
| R30,000 | R690 | R1,108 | R878 |
| R75,000 | R1,298 | R1,684 | R1,965 |
On these published rates, Yoco Core costs less than iKhokha at both levels, and Pro only pays for itself at higher turnover, where its lower rate outweighs the R499 monthly fee. iKhokha’s main practical advantage is same-day settlement for Nedbank customers, which can matter more than a fraction of a percent if your cash flow is tight. If your monthly card turnover is above the published bands, ask both companies for a custom quote.
Card machines: Yoco vs iKhokha
| Yoco | iKhokha | |
|---|---|---|
| Entry machine | Khumo 2: R699 once-off | iK Flyer Lite: R699 once-off |
| Machine with a printer | Khumo Print 2: R1,399 once-off | iK Flyer: R1,499 once-off |
| Tap on phone | Tap to Pay on iPhone | iK Tap on Phone in the iK App (no device cost) |
| Monthly rental | None | None |
| Data | No data subscription | Optional dual SIM for R75 a month |
Machine prices are the companies’ own listed prices in October 2026 and include VAT. Both run promotions, so check the current price before you order.
Payouts: how fast you get your money
iKhokha pays out the next business day if you bank with FNB or Absa, and twice a day on the same day if you bank with Nedbank or use the iK Debit Card. Each daily settlement costs R2.50. Yoco’s standard payouts carry no fee, its Pro plan includes next-day payouts, and faster or instant payouts on other plans carry a fee that depends on the plan.
Tools and online payments
Both companies give you an app to see sales, settlements and transaction history, send digital receipts and manage refunds.
- Yoco adds a point-of-sale app with product and stock features, Yoco Link for taking payment by link without a website, and the Yoco payment gateway for online stores. Our guide to the Yoco payment gateway explains how it works.
- iKhokha adds payment links, invoices, Instant EFT and the sale of prepaid products such as airtime and electricity, with a dashboard for sales and settlement reports.
Funding: Yoco vs iKhokha
Both companies offer cash advances to existing merchants, based on how much they trade through the platform, and both collect repayment as a percentage of future card sales. Offers appear in each company’s app or portal once you qualify, and the amounts and terms depend on your trading history. Because a cash advance is repaid from every sale, compare the total cost with other funding options for small businesses before you accept one.
Yoco or iKhokha: which should you choose?
- Choose Yoco if you want the lowest published in-person rate with no monthly fee, no standard payout fees and a fuller point-of-sale app.
- Choose iKhokha if you bank with Nedbank and want same-day settlement, or you want to sell prepaid products from your card machine.
- Get quotes from both if your monthly card turnover is above R100,000, because both negotiate custom rates.
For online stores, also compare the top payment gateways in South Africa.
Frequently asked questions
Is Yoco cheaper than iKhokha?
On published in-person rates for local cards, yes: Yoco Core starts at 2.30% against iKhokha’s 2.75%, both excluding VAT, and Yoco does not charge for standard payouts. Your actual cost depends on your turnover and card mix.
Do Yoco or iKhokha charge monthly fees?
Neither charges monthly rental for its card machines. Yoco’s Core plan has no monthly fee, while its Pro plan costs R499 a month in exchange for lower rates. iKhokha has an optional R75 monthly dual SIM fee for unlimited data on its Flyer machines.
Which pays out faster, Yoco or iKhokha?
iKhokha pays out twice a day, same day, for Nedbank customers and the next business day for FNB and Absa customers, at R2.50 per settlement. Yoco includes next-day payouts on Pro and charges for faster payouts on other plans.
How much does a Yoco or iKhokha card machine cost?
In October 2026, Yoco listed the Khumo 2 at R699 and the Khumo Print 2 at R1,399, and iKhokha listed the iK Flyer Lite at R699 and the iK Flyer at R1,499, all once-off.
Who owns iKhokha?
Nedbank. Its acquisition of iKhokha took effect on 1 December 2025, and iKhokha continues to operate under its own brand.
