Yoco, a financial platform for small business, announced that it has launched a suite of online payment solutions for merchants to sustain their cash flow during and beyond lockdown. Known for in-person payments, enabling online payments marks a step-change for the company and its customers.
“Yoco’s mission has always centred around helping small businesses thrive and supporting them is more important now than ever before. The national lockdown has had a severe impact on our merchants. Through our platform and the results of a recent merchant survey, we have seen up to a 90% decrease in in-person transactions since the lockdown began. We knew that the best way to support our merchants was to develop products that would enable them to do business online and keep money coming in through this period,” said Katlego Maphai, co-founder and CEO.
The Yoco team have worked tirelessly over the last month to develop three new payment solutions: Payment Page, Gift Vouchers, and Payment Request. All three are purpose-built for small businesses to do business online in different ways, simply and securely.
The Yoco Online Payment suite enables merchants to securely accept online payments, as well as easily track and reconcile all invoices and payments whether in-person or online. Each solution is designed with specific use cases in mind.
- Payment Page enables merchants to receive card payments through a personalised online page, removing the friction of EFTs and creating a seamless experience for customers.
- Gift Vouchers allow customers to support their local small businesses cash flow needs now, and redeem the vouchers for products or services once the lockdown is lifted.
- Payment Request gives merchants who are still trading the ability to request and accept online card payments for sales, conveniently tracked within their sales history.
The online payment suite is available on the app to all Yoco customers.