Yoco fee structure 2023/2024-Updates - Millkun

Yoco fee structure 2023/2024-Updates

Yoco fee structure
Yoco fee structure

Yoco fee structure; When it comes to choosing a payment solution for your business, transparency and simplicity are key. Yoco, a popular card machine provider in South Africa, offers just that.

With Yoco, you can accept card payments seamlessly, and their fee structure is refreshingly straightforward. In this guide, we’ll break down Yoco’s fee structure and provide you with a clear understanding of what you’ll pay for their services.

Yoco fee structure
Yoco fee structure

What You Actually Pay

Yoco’s fee structure revolves around three primary components: the cost of the card machine, monthly costs, and transaction fees. Let’s explore each of these aspects in detail.

1. Card Machine Cost

Price: R599 once-off

When you choose Yoco as your payment partner, you’ll pay a one-time fee of R599 for the card machine. This purchase makes the device yours – no strings attached.

You won’t have to worry about ongoing rental fees or lease agreements. It’s a straightforward transaction that puts the power of card payments in your hands.

2. Monthly Costs

Price: R0

With Yoco, there are no rental fees, no recurring costs, and no unpleasant surprises. That’s right – you won’t be charged any monthly fees for using their card machine. This transparency is a breath of fresh air, especially for small businesses looking to keep their overheads in check.

3. Transaction Fee (Excluding VAT)

Price: 2.95%

Here’s where Yoco’s fee structure truly shines in terms of simplicity. You only pay when you transact, and the fee is a straightforward 2.95% of the transaction amount (excluding VAT).

This means that the more you sell, the more you pay in fees – a fair and logical approach.

To make things even more convenient, Yoco provides a handy fees calculator to help you estimate your costs based on your monthly transaction amount.

Whether you’re a small business processing a few thousand rand per month or a larger enterprise with substantial sales, Yoco’s fee structure adapts to your needs.

Custom Rates for High-Volume Merchants

If your business is thriving and you’re transacting R200,000.00 or more per month through Yoco, you’re in for some additional benefits. Yoco offers custom rates and tailored solutions for high-volume merchants. This means that as your business grows, your fees can become even more competitive, helping you maximize your profits.

Transparency and Ease

In the world of payment solutions, transparency is often lacking. Hidden fees, complex pricing structures, and long-term contracts can make it challenging for business owners to choose the right payment partner.

Yoco, however, stands out for its commitment to transparency and ease of use.

With a one-time payment for the card machine, zero monthly costs, and a straightforward transaction fee that decreases as you grow, Yoco offers a pricing structure that aligns with your business’s success.

You won’t find any surprises in your monthly statements – just clear and predictable fees.

The Yoco Advantage

Yoco is more than just a payment solution provider; it’s a partner in your business’s success. Here’s why many South African businesses are choosing Yoco:

  • Ease of Use: Setting up and using Yoco’s card machine is incredibly simple, even for those who aren’t tech-savvy.
  • Fast Deposits: You’ll receive your funds quickly, ensuring a healthy cash flow for your business.
  • Accessibility: Yoco provides support for businesses of all sizes, from small startups to large enterprises.
  • Mobility: Yoco’s card machines are portable, allowing you to accept payments wherever your business takes you.
  • Additional Features: Beyond card payments, Yoco offers additional features like inventory management and sales reporting.

Making Informed Decisions

When selecting a payment solution for your business, it’s crucial to consider the fee structure carefully. Hidden fees and unpredictable costs can eat into your profits.

Yoco’s transparent and straightforward approach to pricing ensures that you can make informed decisions that benefit your business’s bottom line.

Remember, the goal is to boost your business’s efficiency and provide a seamless payment experience for your customers. With Yoco, you not only achieve these objectives but also gain a partner committed to your success without the headache of complex fees.

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