If you joined Yoco before 20 November 2023, you’re on the Original pricing structure.
If you joined more recently, check out the new Core pricing here.
How does the transaction fee 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 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. For Mastercard and Visa, there will be a maximum transaction fee of 2.95% ex VAT. As your monthly turnover increases, your transaction fee drops (and never goes up again).
If your business processes over R200 000 per month in card payments, you can request custom transaction fees here, and we'll be in touch.
What is the transaction fee?
What is the transaction fee?
Yoco's transaction fee is the same, whether the transaction was done online (using Yoco Online Payments) or in-person (using a Yoco card machine) which ranges between 2.6% ex VAT and 2.95% ex VAT, depending on your Yoco turnover. For international transactions, fees range from 3.05 to 3.45% ex VAT, depending on your turnover. The more you transact, the less fees you pay.
What do you mean, ‘the more I transact the less fees I pay’?
What do you mean, ‘the more I transact the less fees I pay’?
After 3 months of using your card machine and/or our online payment tools, based on your combined monthly turnover, Yoco automatically readjusts and lowers your transaction rate. Once your rate has been reduced we will never increase it again.
Here’s how the fee sliding scale works:
As your monthly turnover increases, your transaction fee drops (and never goes up again).
Total monthly transactions with Yoco:
R0 - R20k | In-person and online card transactions at 2.95%, international online and Amex at 3.4% (ex. VAT)
R20k - R40k | In-person and online card transactions at 2.85%, international online and Amex at 3.3% (ex. VAT)
R40k - R60k | In-person and online card transactions at 2.75%, international online and Amex at 3.2% (ex. VAT)
R60k - R80k | In-person and online card transactions at 2.65%, international online and Amex at 3.1% (ex. VAT)
R80k - R100k | In-person and online card transactions at 2.6%, international online and Amex at 3.05% (ex. VAT)
R100k - R200k | In-person and online card transactions at 2.55%, international online and Amex at 3% (ex. VAT)
Instant EFT is always 2% (ex. VAT) - with next day settlement.
If your business processes over R200 000 per month in card payments, you can request custom transaction fees here, and we'll be in touch.