Tuesday, October 7, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Fintech

In the midst of e-commerce growth, South African fintech start-up Yoco is growing to 120,000 merchants.

Tech Gist Africa by Tech Gist Africa
02/04/2021
in Fintech, Made In Africa, Mobile Money, News, Payment, Start-Up Spotlight, Startups, The Big 5
0 0
0
Yoco South africa tech news 9.19.54 AM

Yoco South africa tech news 9.19.54 AM

0
SHARES
Share on FacebookShare on Twitter

Now serving 120,000 small businesses in South Africa, Yoco’s digital payments network, which includes point-of-sale card machines to support businesses set up online payments, and credit advance services. 

The milestone comes after the launch in October 2020 of Yoco Neo, a new standalone card machine, on the occasion of the fifth anniversary of Yoco. The start-up had 100,000 merchants at the time. 

Yoco was known primarily for its portable card machines until mid-2020, when it rolled out features to enable merchants to receive card payments online. Now, its offerings are being extended into different areas of digital payments.

Yoco was established in 2013 by Katlego Maphai, Lungisa Matshoba, Carl Wazen, and Bradley Wattrus. Their original challenge was to help small business owners acquire card machines for their companies. 

Small business owners would usually apply to banks for a POS machine, but their applications were always denied either because they were too small or because there was no required credit history. 

As such, Yoco first entered the financial system of South Africa as a source of alternative payments. Merchants could connect a smartphone via Bluetooth to their card machine and accept card payments from clients.

According to Maphai, this long play will help mobile money, QR payments, and transfer of electronic funds (EFT). The card machine is the entry point into the ecosystem, for now. 

Small businesses may use their data to access capital from Yoco, with a sufficient number of transactions. Ever since Yoco Capital was released, they have distributed $14.7 million. 

Yoco’s Africa-wide payment and credit ambitions will face competition from other Fintech start-ups  like  Interswitch, Flutterwave, and Paystack.

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Fintech Innovations in Africa
Fintech

Fintech Innovations in Africa: How Digital Banking and Mobile Wallets Are Empowering the Unbanked

by Tech Gist Africa
10/06/2025
0

Africa is experiencing a financial revolution. For decades, millions of people across the continent were excluded from traditional banking systems...

Read more
Meta Ray Ban Glasses

Meta Unveils Ray-Ban Display: AI-Powered Smart Glasses with Neural Wristband

09/30/2025
MazaoHub Tanzania

MazaoHub, a Tanzanian agritech startup, has raised $2 million in a pre-seed funding round

09/30/2025
Rekindle EpiTek

Rekindle Learning Acquires EpiTek to Forge Africa’s Premier Corporate Training Platform

09/29/2025
Duaya EXMGO

Duaya Acquires EXMGO in Six-Figure Deal, Relaunches as Duaya Go to Revolutionize Pharmacy E-Commerce in Egypt

09/29/2025
Next Post
Amazon new HQ Tech News

Amazon’s next headquarters is a glass poop emoji

UnionX Union Bank Innovation Challenge Tech News Africa

#UnionX Innovation Challenge 2021 calls on Innovative and creative Entrepreneurs

Ford Google Android Tech News

Ford vehicles will be powered by Google’s Android operating system

No Result
View All Result

The Big 5

Fintech Innovations in Africa

Fintech Innovations in Africa: How Digital Banking and Mobile Wallets Are Empowering the Unbanked

by Tech Gist Africa
10/06/2025
0

...

Mohamed Alabbar

From Vision to Marketplace: Mohamed Alabbar and the Rise of Noon.com

by Tech Gist Africa
09/29/2025
0

...

Food Security

How Technology is Advancing Global Food Security and Reducing Hunger

by Tech Gist Africa
09/26/2025
0

...

Nvidia Abu Dhabi Robotics Lab

Nvidia and Abu Dhabi Institute Launch Middle East’s First AI & Robotics Lab

by Tech Gist Africa
09/26/2025
0

...

MultiChoice

Canal+ has officially completed its $3.17 billion acquisition of South Africa’s MultiChoice Group

by Tech Gist Africa
09/26/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.