How can you best approach a customer with a Capitec device? Which iKhokha device can you sell to them? Here we give you an in-depth look at the Capitec devices and how you can make the sale, switching a customer to an iKhokha device.
The Capitec device specifications
It pays to know your competition – familiarise yourself with the Capitec devices here.
The Capitec Pro
R499
Accepts local and international card payments
Standalone device
Email receipts
Dual sim and Wifi connection
No VAS functionality
Only links to a Capitec bank account
The Capitec Print
R999
Accepts local and international card payments
Standalone device
Print receipts
Dual sim and Wifi connection
No VAS functionality
Only links to a Capitec bank account
Which iKhokha device would you offer a Capitec customer?
Now that you are familiar with the Capitec devices, we can show you which iKhokha device would be the best to pitch to the customer and why:
What about added value?
When it comes to added value iKhokha offers free business education, no credit check is required to get a cash advance, and provides customers unrestricted access to its app.
Capitec offers free next-day settlements, even on weekends and public holidays – but they only settle into a Capitec account.
iKhokha settles daily from Monday to Saturday at R2,50 (if you settle). They don’t settle on Sundays or public holidays. Should a customer settle six days a week, four weeks per month, they’ll spend max R60.
Summary
We’ve summarised the key points for customers with Capitec devices.
A cash advance is automatically awarded to all traders who own and use an iKhokha card device for a period of 3 months. No additional application is required. Capitec does not offer a cash advance and requires a credit application to be successful. This is the same as applying for a loan.
Capitec business account fees for debit orders and EFT payments could be higher than other banks. The owner would need to compare the fee structure based on their current bank account.
The iKhokha devices are comparable to the Capitec devices in terms of price.
Capitec also offers significantly lower transaction rates.
Loss of additional revenue stream as Capitec devices are not VAS enabled.
The iKhokha app is convenient as it allows access from your smartphone or any other smartdevice to a dashboard. However, no dashboard is currently available for Capitec customers. The merchant portal only allows you to view the approved card transactions.
iKhokha card devices allow you to immediately link the device to any bank account which is currently active (business or personal). Capitec card machines can only settle to a Capitec account which requires the business owner to apply should they not currently have an active account (business or personal).
Test yourself
Can you sell VAS on a Capitec device?
Do you have to have a Capitec bank account to use a Capitec device?
List 3 key selling points you could use to convince a customer to purchase the iK device if Capitec is the competitor.
Does Capitec offer customers access to a Capitec app?
Does Capitec offer free business education to its customers?
