Yoco launches three new payment solutions for SMEs

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You might have seen Yoco card machines ahead of lockdown as you paid for takeaway orders and the like.

These tiny machines allow merchants to accept card payments without having to pay the often exorbitant fees charged by banks for card machines like those at larger retailers.

As such, they’re perfect for smaller businesses.

But today we’re talking about three new offerings from Yoco meant to assist smaller businesses during lockdown.

So what are these solutions? Glad you asked.

Payment Page is the first and perhaps most widely useful at this stage. As the name implies, Payment Page allows a small business to setup online payments so customers can pay with a debit or credit card.

“It is clear from the latest briefing by Health Minister Zweli Mkhize and Dr Salim Abdool Karim that both business and life have been fundamentally altered, and that social distancing is here to stay for the time to come. Therefore, COVID-19 has made contactless and online payments a priority for all of our merchants, no matter which industry they find themselves in. Supporting merchants through this process of adaptation and innovation is a part of our mission,” said co-founder and chief technology officer at Yoco, Lungisa Matshoba.

Yoco says that fees for online transactions will start at 2.95 percent of each transaction and go down as sales come in up to 2.6 percent of each transaction. More details regarding this solution can be found here.

The other two new additions to the Yoco suite of products are gift vouchers and payment requests.

Payment request allows SMEs to request payment right from their smartphones. These payment requests can then be fulfilled from anywhere.

The gift voucher offering is rather simple. It gives smaller businesses which are struggling at the moment the ability to get a cash-injection while they wait for lockdown restrictions to lift.

All of the following new products are available through Yoco’s website right now.

Brendyn Lotz

Brendyn Lotz

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.