How can you best approach a customer with a Yoco device? Which iKhokha device can you sell to them? Here we give you an in-depth look at the Yoco devices and how you can make the sale, switching a customer to an iKhokha device.
The Yoco device specifications
It pays to know your competition – familiarise yourself with the Yoco devices here.
The Yoco Go Starter
R749
Accepts local and international card payments
Standalone device
Can’t print receipts
Dual sim and Wifi connection
No VAS functionality
Links to any bank account of your choice
The Yoco Neo Touch
R999
Accepts local and international card payments
Standalone device
Can’t print receipts
Dual sim and Wifi connection
No VAS functionality
Links to any bank account of your choice
The Yoco Khumo
R1299
Accepts local and international card payments
Standalone device
Can’t print receipts
Dual sim and Wifi connection
No VAS functionality
Links to any bank account of your choice
The Yoco Khumo Print
R1999
Accepts local and international card payments
Standalone device
Can print receipts
Dual sim and Wifi connection
No VAS functionality
Links to any bank account of your choice
Which iKhokha device would you offer a Yoco customer?
The selling point:
Yoco Go Starter R749 – iK Mover Pro R499 = R250 saving
Yoco Neo Touch and iK Flyer Lite both R999
Yoco Khumo R1299 – iK Flyer Lite R999 = R300 saving
iKhokha offers a better rate as your business grows. Although the Yoco transaction fee is lower for smaller businesses, it does not decrease as a customer’s business grows.
Yoco only starts offering a lower rate for customers doing between R100 000 and R200 000 per month. At that point, iKhokha offers custom rates.
The Yoco Go starter has a rate of 2.95% that does not change irrespective of the card transaction amount.
Key take out: for customers who do less than R40 000 of card transactions per month you need to focus on iKhokha’s added value and device costs. Those doing more than R40 000 of transactions per month (turnover on their card machine) will win with iKhokha’s transaction rates.
What about settlement fees?
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.
Yoco does not charge a settlement fee; it’s already included in their transaction fees.
Summary
We’ve summarised the key info for Yoco customers.
Customers changing to an iKhokha will save between R250 and R500, depending on the device they buy.
Both Yoco and iKhokha offer cash advances based on three months of trading.
iKhokha offers a better rate as your business grows. Although the Yoco transaction fee is lower for smaller businesses, it does not decrease as a customer’s business grows.
Yoco does not charge a settlement fee (it’s included in their transaction rates).
iKhokha offers a VAS functionality, thus enabling customers to access an additional income stream.
The iKhokha devices are better priced. iKhokha offers lower transaction rates once customers accept more than R40 000 in card payments. iKhokha also enables customers to earn additional revenue by selling VAS.
Test yourself
Can you sell VAS on a Yoco device?
How much do you save by switching to an iKhokha device? List the savings per device.
Does Yoco charge a settlement fee?
Who offers a better transaction rate for customers accepting more than R40 000 in card transactions per month?
What are the added value benefits of iKhokha versus Yoco?
