Yoco Terms: FAQs
Updated over a week ago

When you click on “Continue” at the end of the first step of Yoco signup, you accept our Terms and Conditions. Please make sure you read and understand them all, before accepting our agreement.


If you’re unsure, or have questions, we’re always here to help: email us anytime at [email protected] or reach out to our Support Team (contact details below).

Please note: This FAQ guide is intended to provide you with quick highlights of the key aspects of our Ts and Cs. This by no means aims to replace, or cover all the material details. This is not a legal document. Please read the full agreement(s) that apply to you, carefully.


When can I start taking payments?

You may transact as soon as you’ve finished Signup: when you finish the Signup process online, in-App or in-Portal, in which you create a Yoco Profile with your unique email address, and submit your contact and other business details.

You’ll know you’ve completed Signup because you’ll be notified via email, and you’ll be automatically directed to complete your Setup for Payouts.


When can I get my money?

Only once you’ve successfully completed the identification and verification process, will your Payouts be settled. To get your Payouts settled into your bank account, you’ll need to first submit your original Identification and bank details, as well as any verification documents requested by Yoco.

If you don’t pass the verification process, or your application is denied for any other reason, all the money you’ve transacted with Yoco thus far will be refunded to the Cardholders and you won’t have any recourse against Yoco for any losses or damage as a result.


This is why it’s so important to first make sure that you have everything you need to complete Setup for Payouts, before you start transacting.


What can’t I use Yoco for?

Yoco has a very clear Prohibited Businesses list, and believe it or not, there is stuff you can’t sell/do with Yoco. Thankfully, the list is pretty short though...


Here’s a summary of what you can’t do with Yoco:

  • Sell electricity or airtime, or make cash withdrawals

  • Use in a loan business or to take offline transactions / debit orders

  • Charge your customers the card transaction fees (illegal in RSA)

  • Use in a Time-share or Holiday Club organisation

  • Use in a criminal enterprise, or for pyramid selling

  • Use in Bureaux de Change, high-risk security investments, commodity investments and other investment merchant enterprises

  • Use in sale of prescription or illegal drugs, or tobacco products (including cannabis, THC and CBD products)

  • Use in agencies of adult content and/or escort services

  • Use by independent financial advisers

Hitting a little close to home? Check out the full details here.



A Note on Currency: Although you can take payments from all over the world with Yoco, all balances in your Merchant Account and all fees, charges, and payments collected or paid through Yoco’s Services are denominated in South African Rand.


Wait, what am I agreeing to?

Everyone who signs up with Yoco accepts our Merchant Agreement. It’s the heart of our Ts and Cs, and details the give-and-take, in which we work together to extract value for one another, in a way we both agree is fair.

When you accept this Agreement, you take on some responsibilities (like complying with certain rules, and paying your Fees) in exchange for getting some valuable rights (like the use of Yoco’s Services and Support). If you choose to use a Yoco card machine, you’ll also accept the applicable card machine policies.

On the other hand, Yoco takes on the hefty responsibility to provide our Services to you in a proper and lawful manner, and to support (and delight) you in using the Services to the best benefit of your business. We also protect your information and the safety of our entire payment ecosystem, with internationally accredited practices and a proactive (dare we say, pretty badass and cutting edge) in-house fraud fighting team.


So, what exactly are my responsibilities here?

Firstly, you have to provide accurate details about you and your business during Signup, and the verification documents we request in order to complete your Yoco Profile.

Then, no matter when it happens, you must immediately let us know (contact our Support Team):

  • If there’s any change to the circumstances, status, ownership or details of your bank account or business.

  • If you suspect your Yoco Profile has been accessed or used by any unauthorised person.

  • If you ever want to terminate the Agreement and/or Yoco’s Services.


You promise to keep it real:

  • Lawful Business: You, your business, employees and the nature of your Transactions must comply with all applicable laws and regulations.

  • You must fulfil all of your obligations to your customers, and resolve any issues directly with the person(s) involved.

  • You won’t commit fraud or interfere with Yoco’s Services.

  • Any Transaction ****must be a genuine sale of a good and/or service.

  • You won’t allow anyone who owns any part of your business to process payments to the business, in their personal capacity.

  • You must fully cooperate with us, if Yoco decides to initiate investigations of your Transactions.

Use of our Services is at your own Risk: You understand that using any payment services will have certain risks, and that due to the nature of Yoco’s Services, its use is at your own risk. Find out more here.


You give Yoco the authority and right to access and do the things that enable us to provide our Services to you. This means holding, receiving, and disbursing settlement funds on your behalf, and setting-off all amounts that you still owe Yoco from your Payouts (settlement amount).


Can someone else take over my Yoco Profile from me?

You won’t be allowed to transfer any of your rights, or delegate any of your obligations to anyone else, unless we make an exception in writing.


What if there’s downtime?

The nature of clearing and settlement services - using a combination of outside and third party networks/ systems to connect, store, process, transfer and otherwise interact with digital information, including Banks, mobile networks and many more - means that our Services are provided on an “as is” and “as available” basis. We’ll take all reasonable steps to reliably provide our Services, but we can’t guarantee that there won’t ever be defects or downtime.


What are these “Card Machine Policies” you speak of?

The card machine policies outline refund & exchanges, the warranty details, rejection upon delivery and damages. For Yoco Neos and Yoco Khumos, there are also special Ts and Cs associated with getting a free SIM that includes a lifetime of unlimited data only for transacting and using Yoco.

Find them here: All card machines | Khumo | Neo


Can Yoco change the Ts and Cs?

Yes, we may (and did recently) update the terms of our Agreement. As the regulatory and risk environments shift, we’re careful to remain responsive, adaptive, and responsible with how we evolve the legal framework that underpins and protects our ecosystem.

We also reserve the right to change our fees and payment terms or introduce a new fee. If we ever make changes which you disagree with or which means you no longer accept all the terms, you can cancel anytime and immediately, without any penalties or notice periods.


Payouts and Chargebacks: what’s the deal?

Payouts: The payments we make of settlement funds into your Bank Account.

How much, you ask? All valid Transactions presented for payment minus the fees, as set out in our Pricing Plan and Fee Schedule. You’ll get a monthly invoice for all your Payouts, with a list of all your Transactions. You can also view details of every Transaction and every Payout straight from your App or Business Portal.


Chargebacks: A lawfully disputed or reversed Transaction or one which is, in our reasonable opinion, suspicious or unlawful.

Then what? We’ll withhold settlement payment of the full Chargeback amount or debit its value, plus any legal or other costs incurred as a result, from your settlement funds (Payout). It may be withheld until either the payment dispute is settled one way or another, or the lawful window for this type of dispute has passed.


What about fraudulent or criminal activity?

We aim to prevent criminal activities such as money laundering, terrorist financing and cybercrimes. In doing so, we may take any of these steps:

  • Refuse to do business with anyone we suspect may be involved in illegal activities or other activities that may have a negative impact on us.

  • Verify the identity of anyone who tries to access your Yoco Profile or Merchant Account.

  • Block access and/or suspend your Merchant Account, if we suspect you may be the target of, or being used for any unlawful activities or cybercrimes.

  • Ask for further information and check any Transaction, instruction or recipient before we act, even if this causes a delay in our Services.


If we reasonably suspect that any fraudulent or criminal activity is taking place, we may:

  • Conduct physical inspections and investigations at your business or at any other relevant place.

  • Suspend or terminate your access to our Services (immediately and without notice to you).

  • Delay settlement or withhold payment.

  • Provide your details, and the details of any conduct that caused our suspicion, to the relevant legal or other authorities and/or associations, (like the SAPS, SAFPS, or the Acquiring Bank).

Where unauthorised Transactions have been detected, we have the right to (immediately, without notice to you), terminate or suspend our Services. Any action committed on your behalf is lawfully assumed to have been fully authorised by you.

Please beware of phishing scams and other potentially fraudulent activities for which you’ll be fully accountable. Find out more here.


What if I want to walk away?

No problem. You’re never locked in with Yoco — cancel our agreement anytime, by letting us know ([email protected]) and stop using our Services. You won’t be charged anything for cancelling, or have any penalties or notice periods, and any transactions you made with Yoco that haven’t been settled yet will still be paid out to your nominated bank account as per usual.


What happens if I break the terms of our agreement?

We may terminate this Agreement and our Services immediately, without notice to you, if:

  • We’re required to do so by any applicable law or regulation.

  • You break any of the terms of our Agreement(s).

  • We suspect any fraudulent or criminal activities.

  • We suspect there’s any unlawful or negligent use of our Services.

  • We suspect any activity that may create harm or loss to the goodwill of the card payment system.

  • You don’t notify Yoco responsibly.


Explore our full list of Terms & Conditions

We do our best to keep this list up to date. However, to always ensure you have the most recent list, please check out our Terms & Conditions here.


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