Today's Big Stories

UCT graduate helps small businesses plug into smart payments with Yoco

Traders and entrepreneurs are a step closer to convenient transactions, thanks to Katlego Maphai, co-founder of tech solution Yoco.

Yoco helps small business owners process card payments by converting any smartphone or device into a point of sale (POS) machine.

Maphai explains that Yoco card readers accept both chipped or swiped cards, while also making use of a pen pad for signatures.

Yoco is an easy way for SMEs in South Africa to accept card. We have to card readers that work with your smartphone...It's easy to use for small businesses and consumers.

Katlego Maphai, Co-founder and CEO of Yoco

Unlike conventional banking POS terminals, Yoco provides a digital receipt via SMS or e-mail, which Maphai believes will be an important touch point in the future.

He says what differentiates Yoco from other POS systems is the accessibility, pricing, convenience, support and data analytics offered by the software.

Within 24 hours of signing up, we would have vetted you and typically after 48 hours you'd have your card reader for transactions...It's really affordable, there's no monthly fees or fixed costs - we don't believe in that. We want to grow and we want our business owners to grow.

Katlego Maphai, Co-founder and CEO of Yoco

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:

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