Yoco built its business around a practical gap in South Africa: small businesses needed to accept card payments, but the available tools and process could be difficult to access. It began with card-payment devices and transaction fees, then expanded into point-of-sale software and other merchant tools. The founding spark, as CIO reported it, was co-founder Katlego Maphai seeing Square’s small-business payment model while travelling in the United States and sharing the idea with co-founder Lungisa Matshoba.
The opportunity Yoco set out to solve
Yoco’s stated idea was to make in-person and online payments simpler for small businesses. The opportunity was not simply that customers wanted to pay by card; it was that smaller merchants could face barriers to getting and using the equipment and services needed to accept those payments. Financial Mail later reported estimates of about 250,000 South African businesses with card-machine access when Yoco began, compared with about one million using card machines as a main payment source in 2026. These are reported estimates, not figures independently validated by the other sources cited here. Yoco’s company description and Financial Mail’s 2026 account provide context for the access gap.
The origin story has a useful qualification: the account of Maphai encountering Square comes from CIO’s reporting. CIO said he saw Square’s solution for small businesses in the United States and brought the idea to Matshoba; it should be understood as a reported account of the spark, not as an independently verified first-person record. CIO’s account
From idea to card-payment business
Business Day traces the idea to late 2012, when the four founders were considering what to build together. The path from concept to launch took several years, in part because payments required both a workable product and the necessary operating and network arrangements.
Quick wins for a faster PC:
Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →#1 Best Overall
- Get your money as soon as the next business day.
- Get set up quickly with no long-term commitments. Download the Square Point of Sale app for free, create an account, and start taking payments anywhere.
- Run your business all in one place with the free Square Point of Sale app. Track your sales, manage inventory, accept tips, send receipts digitally, and more.
- Works with Apple devices with a Lightning connector.
- 2013 — licensing: Co-founder Maphai said the founders spent the year working to obtain a licence to operate.
- 2014 — product and certification: The team built the product, hired an early team, worked through technical specifications and obtained Visa and Mastercard certification.
- 2015 — beta: Yoco began a beta with 500 merchants. Business Day also reported that the company opened to the public three years after the initial idea.
These dates and milestones are from Business Day’s 2021 history. They show why the opportunity required more than a simple device: the company had to navigate licensing, product development and card-network certification before it could bring the service to merchants.
How Yoco made money—and expanded its offer
Card devices and transaction fees
Yoco’s early model paired card-device sales with a fee on each processed payment, according to Business Day. This gave the company a way to earn from the initial hardware sale and from the payment activity that followed. The device was also an entry point to a continuing relationship with the merchant.
Rank #2
- Use the, easy-to-use, and customizable POS to get started.
- Accept contactless payments, chip cards, Apple Pay, and Google Pay from anywhere, with improved connectivity, extended battery life, and enhanced security. Pay one low rate for every tap or dip.
- No long-term commitments or contracts, no monthly fees- and with offline payments, keep taking payments for up to 24 hours.
- Safely and securely accepts payments anywhere. Plus, get data security, 24/7 fraud prevention, and payment-dispute management at no extra cost.
- Use the, easy-to-use, and customizable POS to get started.
Software and operational tools
Yoco later built out from payment acceptance into POS software, business tools and integrations for small businesses. That progression connects the original payment flow to everyday merchant operations: the terminal can take a payment, while point-of-sale software and related tools can help manage sales and other business tasks. Business Day describes the early business model and expansion; Yoco’s Counter product materials describe the later integrated offer.
Yoco Capital’s historical role
In October 2018, Yoco announced Yoco Capital, a cash advance for eligible merchants that was repaid as a fixed percentage of card transactions. The launch release said a pilot had granted 225 advances worth R7.5 million before the product moved out of beta. Those figures describe the company’s 2018 pilot, not current lending activity. The release does not establish that Yoco Capital is available today. Yoco’s 2018 announcement and pilot details
The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Rank #3
- With Square Terminal, you can ring up sales, accept payments, and print receipts, all with one device. Use it at the counter or ring up customers anywhere in your store.
- Accept all major credit and debit cards and pay one low rate with no hidden fees and no long-term contracts.
- Process chip cards in just two seconds.
- Get your money as soon as the next business day.
- Use it cordlessly with the built-in battery, designed to last all day.
Yoco said a 2018 survey of more than 3,600 small businesses from its own base found that 51% of surveyed owners considered access to funding important to running their business, while 13% had applied for and successfully received the funding they wanted. These are results from Yoco’s company survey, not national statistics. Yoco’s 2018 release
Why Yoco moved toward an integrated point of sale
Yoco’s Counter materials describe a move from a separate card machine and app toward a more integrated point-of-sale setup. The company says merchants it interviewed described fragmented hardware and software, awkward integrations, confusing setup and service bottlenecks. In the same account, Yoco Product Marketing Manager Indy Barris said: “There’s so much confusion. It’s hard to figure out: ‘I’ve got this hardware, what software do I need? And then what integrates with what?’” Yoco’s Counter account
Rank #4
- 【Ultra-Fast Data Transfer】Experience blazing-fast 5Gbps data transfer with this USB 3.0 SD Card Reader, ensuring quick and efficient file transfers for photos, videos, and other media. Backward-compatible with USB 2.0 for added flexibility. Easily review and transfer data from security cameras, wildlife monitors, or car cameras, gopro without hassle(📌Note:only reads and transfers data from the SD and TF card, not directly connect to the camera)
- 【Simultaneous Dual-Card】Save time and boost productivity with dual card slots that allow simultaneous reading and writing on both microSD and SD cards. USB-A and USB-C dual header design makes the micro SD Card Reader perfect for photographers, video editors who need quick and efficient file management(📌Note:Thick cases may prevent full insertion）
- 【Compact & Travel-Friendly】Designed for convenience, the slim and lightweight card reader for camera memory card fits perfectly in your camera bag or laptop sleeve. Protective covers at both ends shield the ports from dust and liquid, while the attached cord keeps everything secure and easily accessible. A reliable companion for on-the-go professionals and creatives(📌Note: "SD"card and "Micro SD" card not included.）
- 【Plug-and-Play】The SD Card Reader for PC does not require driver or software installation, just connect to your device and start transferring files instantly. Compatible with Windows 11/10/8/7, macOS, and most Android devices. Crafted from heat-resistant aluminum materials, this SD Card Reader for PC delivers reliable performance and enhanced durability, even during long working(📌Note: SD Slot does not support CF express Type A/B/C Cards; SIM, XQD, MS Cards and Memory Stick）
- 【Wide Device Compatibility】The USB C SD Card Reader works seamlessly with PCs, computers, laptops, cameras, smartphones and tablets featuring USB-C or USB-A ports, including MacBook Air/Pro, XPS, iPhone 15/16, iPad Pro, Samsung Galaxy S23, Microsoft Surface, Acer Aspire, and Predator series. Perfect for quickly accessing files directly on your device without additional apps or internet connections(📌Note:Not compatible with “Lightning” port devices）
Yoco describes Counter as POS hardware and software combined with sales reporting, stock management and staff tracking. Barris characterized the direction as: “We’re a payments company and now we’re connecting payments with point of sale; a simple, easy to understand, out-of-the-box solution.” The company says the final design uses a custom 12-inch HD touchscreen on a weighted stand running its POS software, and frames food and beverage businesses as a strong fit. Those are Yoco’s product descriptions, not independent evaluations of performance or suitability. Yoco’s Counter materials and design details
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the growth figures do—and do not—show
Yoco’s reported scale has grown across the snapshots available, but the figures come from different sources and dates and should not be treated as a continuous, audited series.
Best Value
- An intuitive interface to easily accept payments and manage your sales.
- Strong, reliable Wi-Fi connection. Free SIM card and mobile data so you can process payments anywhere.
- Great battery capability with an additional charging station.
- A truly portable device. Stay in control of your business, wherever you go.
- Support when you need it. Get in touch with our US-based support through phone, email and chat.
| Snapshot | Reported figure | Source and qualification |
|---|---|---|
| By the end of 2019 | More than 80,000 customers | CIO reported Yoco’s figure circa 2020; historical. CIO |
| April 2021 | More than 110,000 registered businesses | Business Day; historical. Business Day |
| Undated company snapshot, accessed October 8, 2026 | 200,000 small businesses use Yoco tools; more than $2 billion processed annually; over $100 million raised | Yoco’s about page; the page does not show a publication date or methodology in the material available. Yoco about page and company figures |
The 2019 and 2021 figures are historical reports, while the larger figures are claims on Yoco’s undated company page. They use different descriptions—customers, registered businesses and businesses using tools—so they do not establish a directly comparable growth rate.
What Yoco’s story says about its business model
Yoco’s development illustrates how a fintech company can use a payment product as its first foothold with small merchants. Hardware gives a business a way to accept cards; transaction fees link revenue to payment activity; software and integrations extend the relationship into day-to-day operations. Yoco Capital was a historical example of a further service built around merchants’ payment flows, but its 2018 launch is not evidence of current availability.
The central strategic move was therefore not just selling card machines. It was using payment acceptance to reach a customer group that had difficulty accessing card tools, then developing a broader set of services around that merchant relationship. The available sources establish this company history and Yoco’s own product framing; they do not establish a current comparison with competing providers or independently measure the results merchants achieved.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
