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iKhokha's low transaction rates helps small businesses grow

Here’s what you look for when choosing a card machine for your small business.

Here’s what you look for when choosing a card machine for your small business.

Published Dec 6, 2021

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Partnering with a company that has your best interests at heart is a pretty good place to start.

Luckily a rapidly growing mobile payment provider is on a mission to help small businesses succeed. Because when small businesses flourish, our economy thrives.

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The dynamic fintech recently launched their Together We Rise campaign which commits to uplifting SMMEs by offering the best value card machines and low transaction rates in South Africa.

The iKhokha team is on a mission to create financial inclusion throughout South Africa by making card machines affordable to all small business owners.

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That means they provide their clients across South Africa with:

  • Reliable, portable payment devices with user-friendly software
  • Excellent security features to protect card payments
  • No expensive monthly rental fees on card machines
  • Low transaction rates on all card payments

Unpacking iKhokha’s transaction rates

iKhokha currently charges only 2.75% per transaction (exclusive of VAT). The best part is, as your turnover increases, these transaction rates drop. That means the more money you make, the less you pay on card transaction fees. Find a more detailed rate breakdown here.

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You can also take a look at iKhokha’s rates calculator to find your customised transaction rate.

In addition, their entry level card machine costs as little as R199 once-off. With no rental fees, making your first foray into card transacting is extremely affordable.

The commission that other local card machine providers charge on transactions is not only higher but some, like larger retail banks, also tend to charge costly monthly rental fees which increase your expenses and the overall costs of running your business.

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Shop around and you’ll see transaction rates starting from around 2.95% and up elsewhere.

In contrast, the iKhokha model actually rewards you for your business success by reducing card payment fees as you make more money. While competitors have followed suit, many of their overall card transaction rates and fees remain higher than iKhokha’s.

iKhokha is here to stay, and like its merchants, to grow and expand using a cost-effective business model where everybody wins. With low transaction rates and a team dedicated to adding value and supporting clients, they’re paying it forward every day.

Find out more information on iKhokha’s cost-effective mobile card machine devices here: www.ikhokha.com

Related Topics:

SMMEsMoney Matters

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