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What is the transaction fee, and how does it work?

How does the transaction fee work?

A transaction fee is applied for each transaction that you process. For example, if your transaction rate is 2,95% ex. VAT (which is 3.39% incl. VAT) and a customer pays R100.00 on your card machine, a transaction fee of R3,39 (including VAT) is deducted automatically and then R96,61 is paid directly to you, into your bank account.

As your monthly turnover increases, your transaction fee drops. You can estimate what your transaction fee would be here, based on the amount you transact through your card machine or online, in a month.

If you are already transacting over R100 000+ per month, through your card machine or online, you can request a call from our Business Development team, who can discuss how Yoco can help your business grow. Get in contact by completing this form and we'll call you back.


What is the transaction fee?

Yoco's transaction fees differ depending on if the transaction was done online (using Yoco Online Payments) or in-person (using a Yoco card machine).

  • In-Person Transactions
    The maximum/capped rate is which is 2,95% ex. VAT (3.39% incl VAT)

  • Online Transactions
    The maximum/capped rate is 3.40% ex. VAT (3,91% incl. VAT)


 After 3 months of using your card machine or our online payment tools, based on your monthly turnover, Yoco automatically readjusts and lowers your transaction rate. Once your rate has been reduced we will never increase it again.



Why are the fees for online card payments higher than in-person card payments?

Our fees for online payments are as low as we can make them. Around the world, online transactions cost 0.5% more than card machine transactions on average.

As of October 2020, our rates match the global standard. Yoco's online payment rate starts at 3.40% (ex. VAT) and will tier down in the same way that rates for in-person card payments do.

Need some help? If you'd like to chat more about transaction fees, please contact our support team via Live Chat directly from our website or help centre. Look for the Chat or Help button Screenshot_2020-11-19_at_12.03.31.pngon the bottom right-hand side of each webpage.

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