How can you best approach a customer with a HelloPay device? Which iKhokha device can you sell to them? Here we give you an in-depth look at the HelloPay devices and how you can make the sale, switching a customer to an iKhokha device.
It pays to know your competition – familiarise yourself with the HelloPay devices here.
Now that you are familiar with the HelloPay devices, we can show you which iKhokha device would be the best to pitch to the customer, and why:
Sometimes a deal can be sealed because the added value services of one device is better than the other. Here iKhokha really shines – it offers 24/7 support, and award-winning app and free business education which HelloPay does not.
iKhokha does not charge minimum usage.
iKhokha’s cash advance is based on the three month trading history of the outlet and outlet owners automatically qualify for up to R1 MILLION. With HelloPay you need to do a minimum of R30 000 per month for six months. It’s quicker to grow your business with iKhokha’s cash advance system.
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A big drawback of the HelloPay offering that iKhokha does not have is minimum usage penalties:
Owning a HelloPay device
Renting a HelloPay device
iKhokha’s transaction rates are higher, but the device is cheaper, there’s no rental cost, and there’s no minimum usage penalty, which means iKhokha may well work out cheaper in the long run.
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Note: Different international rates apply for both iKhokha and HelloPay.
Sales tip: HelloPay offers new customers a transaction rate of 1.85% BUT only for the first two months. In the third month, they will be pushed into a higher bracket depending on their turnover. The minimum rate then becomes 2.15% for those transacting under R40 000 per month.
HelloPay fees look cheaper, but you pay more per year, especially if you’re a small business. While HelloPay does not charge a settlement fee, they charge a service fee of R100 when transactions are below R15000 p/m.
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.
Key take out: You will save so much more by choosing iKhokha
We’ve summarised the key points for customers who either own, or rent their HelloPay devices.
If the customer owns their device and does more than R15 000p/m, there is no reason to change to iKhokha.
NB: Device is more expensive and you don’t own the device. If you do not achieve the min usage, the penalties will apply (making it more expensive) and could result in the device being uplifted (loss of all rental).
If the customer rents their device and does less than R80 000 p/m, iKhokha is the better choice to replace HelloPay.
Click here to return to Module 2: iKhokha related costs.
Click here to move on to iKhokha vs Kazang.
Click here to return to the iKhokha Training Centre.
