Sign Up & Pricing

What is vetting?

Our vetting process is a standard industry requirement, conducted to ensure that all merchants signing up for Yoco meet the criteria set by our partner bank, ABSA. 

At Yoco, we try to keep this as simple as possible, and our vetting process consists of independently verifying basic information. We have to vet all of our merchants by law, no matter whether they choose  straight or term payments. 

Vetting is a series of checks that Yoco performs on each of our new merchants. We use identifying information such as name, ID and/or passport number, and for registered businesses, their registration number that was supplied during sign-up. We then match this information against existing databases from TransUnion and MasterCard. 

This is done to make sure that we will receive the correct KYC (Know Your Customer) documents for the matching person/business.

Specific checks performed by Yoco:

For Sole Proprietors

  • Name and ID check
  • MATCH Check

For Registered Businesses 

  • Company registration number check
  • Annual returns check
  • Name and ID of all directors
  • MATCH check
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