If you have a business regardless of its size or nature, you can start accepting electronic and mobile payments in South Africa using Yoco machine. In the Covid-19 era where many people are opting for cashless payments, Yoco machine is helping by facilitating cashless payments.
What is a Yoco Machine?
A Yoco machine is a device that is used to make card payments. You can use it to tap, swipe or insert cards to make a payment. It is a mobile device and it connects to your phone or tablet through Bluetooth. It comes with Yoco app and can fit in the pocket. It usually has a long battery life. It is a great option for new businesses or those looking to start accepting card payments. It does not have monthly fees.
How Yoco Card Machine Works
To start using the Yoco machine, you need an app on a smart phone or a tablet. You then need to connect the phone or tablet to the card reader via Bluetooth. The merchant will then enter the amount payable via the app and then the customer make payment by swiping, tapping or inserting their card on the card reader. Money will be available in the merchants account within 2 business days.
Yoco Go Machine
You can get the Yoco Go Machine for only R299 once-off. You can order one online and have it delivered within 3 business days in South Africa. To order Yoco Go Machine, you need bank account details, a copy of your ID and your delivery address. You also need a smart phone or tablet that can connect to the Yoco machine via Bluetooth.
You can get the Yoco Neo for only R799 once-off. It is suitable for businesses that are looking to grow. It comes with an inbuilt SIM. The SIM is usually loaded with data for all lifetime transactions. You do not need Bluetooth or smart device to connect. To order one, you need bank account details, a copy of your ID and your delivery address.
Yoco Online Card Payment Gateway
Yoco launched a payment request feature that makes online payments possible. It is possible by pairing a merchant account with an online payment gateway that facilitates the communication between the merchant’s bank and that of the customer. This allows for easy transition of funds from the customer’s account to the merchant’s account. Yoco online card payment gateway works almost the same as physical card machine. It is worth noting that online stores require some technical skill to implement online card payments.
Yoco app is available on Play Store and Apps Store. Once you have downloaded the app, you can login and start selling and process payments using it. You can use the app to create sales, manage products and track performance.
Yoco Fees 2021
You can buy the Yoco machine for as little as R299 once-off. After that, you will be required to pay a small percentage of between 2.6% and 2.95% exclusive VAT for every card payment accepted. For Yoco online payments, you will be required to pay between 2.6% and 2.95% exclusive of VAT.
You can also sign up for free and you can start suing Yoco Link and Yoco Gateway. International sales attract transaction fee of between 3.05% and 3.45% exclusive of VAT.
Yoco International Payments
Yoco accepts international online payments. However, before you can get started with international online payments, spend some time and learn the skill. One of the ways to do it is by taking card on your website. You need to set up Yoco payment gateway on your website. It is compatible with WordPress, WooCommerce, Wix and Shopstar. This way, you can get instant notifications and money will be in your account in 2 business days.
You can integrate Yoco with your WooCommerce online store to start receiving card payments. By using Yoco Payments gateway, you will not be charged monthly fees. Transaction fees start from 3.4% exclusive VAT and you can make daily payouts. It is a secure way of receiving payments in a few minutes.
Final Word on Yoco Machine
Yoco is a great way for your business to start receiving card payments. You can sign up for a Yoco account and then order the Yoco machine. Depending on your business size and needs, you can decide whether you want Yoco Go or Yoco Neo. You can integrate in your business website so that customers can make online payments.