Yoco Machine Review and How it Works

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.

Bitcoin is becoming one of payment options for many businesses around the world. If you want to attract new type of clients into your business by accepting cryptocurrency payments, read our review of best cryptocurrency payment gateways.

What’s Special About Yoco Machine?

  • No contracts or monthly fees for Yoco card machines. Yoco also lowers your fees the more you transact. If you qualify for lower fees after 3 months, your fee will automatically be reduced, and it’ll never increase again. Never.
  • The Yoco App helps you run and manage your business transactions from your phone or tablet, be it cash, card, mobile, or online.
  • Yoco payment gateway lets you accept credit/debit card payments on your website or online store. It is compatible with ecommerce platforms such as WordPress, Wix, WooCommerce, and Shopstar. You can also accept payments via WhatsApp, SMS, email, on your invoices, or via social media.
  • The Yoco Business Portal helps you to understand your business performance, manage staff access, cash flow, and collating data from multiple stores. All reports can be downloaded into Excel and CSV format, from the cloud, anywhere in the world.
  • Yoco Capital is a cash advance for small businesses with no interest. If your sales diminish or stop, your repayment stops without incurring late fees or penalty.

What is a Yoco Machine?

A Yoco machine is a device that allows you to receive 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. Yoco card machine 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 Does Yoco Work? (Yoco Go Card Machine How Does It Work?)

This is how to use Yoco Go Card Machine. 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. You will then enter the amount payable via the Yoco app and then your 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 App

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.

Go to Yoco Website

How to Get Yoco Go Card Machine

You can get the Yoco Go Card Machine for only R299 once-off. You only pay us a small percentage on every card payment accepted. 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.

Yoco Neo

Yoco Neo is a next-generation card machine that stands alone. 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 payment gateway is an e-commerce solution that allows you to accept payments on your website. It facilitates the communication between the merchant’s bank and that of the customer. Yoco online card payment gateway works almost the same as physical card machine. The payment gateway is compatible with WordPress, Wix, WooCommerce, and Shopstar.

Yoco Link

This is an online payment link that you can send via WhatsApp, SMS, email, on your invoices, or via social media. It allows you to sell products and take card payments without a card machine or a website.

Yoco Vouchers

Yoco Vouchers allows you to add income stream via gifts and give loyal customers the chance to support your business.

Yoco Capital (Yoco Loans)

Yoco Capital is a cash advance to help you grow your business. You can apply from the Business Portal in three steps that take less than five minutes, and get your money the next day. After paying one flat fee that you agree to with no interest charged, Yoco takes a small percentage of your future card transactions to pay back the cash over time. If your sales slow down (or stop), so do your repayments — no penalties, late fees, or collateral. The business capital is for all small businesses such as vendors at flea market, home beauty salon, cars wash, etc.

Yoco Business Portal

The business portal gives you a dynamic dashboard of key information, live data and impactful insights that help you manage inventory, product organisation, and sales reports. Business data is broken down by number of sales, gross sales, payments, product, staff, categories, brands, etc.

Does Yoco Accept International Payments (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.

Yoco WooCommerce. You can integrate Yoco with your WooCommerce online store to start receiving card payments.

Yoco Fees 2021 (Yoco Charges)

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 Alternatives

There are many payment solutions in South Africa. Some are designed for businesses of all sizes while some are targeting SMEs. Some of the alternatives are:

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.

Go to Yoco website

Vincent is a writer and researcher with an interest in finance, banking, startups, and remittance. He holds a Bachelors degree in Applied Statistics with computing. He founded Nexin Startups, an online platform offering startup advice to investors and entrepreneurs. Read more about us and our authors.