JOHANNESBURG – Yoco, a South African mobile points of sale (mPOS) provider, on Thursday said it had reached a milestone of 50 000 nationwide merchants since it was launched in 2015, with plans to reach the mass market.
The company yesterday also launched its new terminal, called the Yoco Go, targeting the ”small guy”.
“The majority of the 50 000 small businesses were accepting payments for the first time,” said Katlego Maphai, the chief executive of Yoco.
Yoco is disrupting traditional payment models by removing red tape and lowering activation costs aimed at servicing small under serviced companies.
Yoco said its typical customer has a turnover of between R10 000 to R200 000 a month. The company said 20 percent of sales from traditional-offering based customers and the other 80 percent were new to mPOS.