In the day-to-day life of your business, few things are more important than making sales – because without them, there would be no business to speak of! To make those sales, it’s important to ensure that you’re able receive various means of payment from your customers – and offer them a variety of options to suit their preferences. There have been many exciting changes in the payments landscape over the last few years, making it far more accessible and affordable for entrepreneurs, with mobile, flexible and “fintech” technologies having fast become the gold standard. But, it can get rather difficult to discern the best and most valuable offerings from all the marketing fluff out there. Here we’ll take a look at how to choose the best payment solution for your customers and business, comparing the best POS devices (card readers) and scan-to-pay apps, so you can get back to getting paid for doing what you love.
*The data above was updated June 2021.
*Entry-level machine – Device must be paired to smartphone or tablet, unless stated otherwise.
** HelloPeter ratings are generally skewed downward, as customers use this platform primarily to lodge complaints. This makes the platform useful to understand what people are complaining about. Interestingly, Ikhokha has Partnered with HelloPeter to prompt all users (happy or unhappy) to use the platform as their base for reviews. This is the likely reason why Ikhokha have almost three times the review volume of their competitors on Hello Peter., and thus the inclusion of more positive reviews would contribute to a higher score. More businesses should consider this measure.
***Please note that FNB and Nedbank do not publish their pricing online and require customers to request a callback. For an entrepreneur, we consider this is an unnecessary step. As such, they were not considered.
*The data above was updated June 2021.
With Yoco, a business gets so much more than “just a card reader”. Yoco offers a superior package of free features to help make financial management and analysis easier. Their POS software package is free. They charge a transaction fee that decreases on a sliding scale (i.e. the more you earn, the less they charge), with zero other monthly costs. Plus, their online payments suite opens the door for all their merchants to seamlessly transition into the digital payments space. To boost a merchant’s cashflow, customers also have access to Yoco Capital for funding, which is paid back as they make sales through their Yoco device (no late-fees or penalties). You might be swayed by their slightly higher transaction fee compared to the competition… but don’t be! This difference equates to a negligible actual Rand value per transaction (see example in the table above) and given the huge suite of benefits at ones fingertips, it’s well worth it! This combination of factors makes Yoco our number one choice for new businesses to accept card payments.
Zapper’s business solution makes it the best option for entrepreneurs to start accepting QR Code payments. They offer more affordable transaction fees, comprehensive e-commerce integration capabilities, and a formidable range of extra features and flexible functionality. Payments providers have pivoted beyond their core functions and Zapper adds excellent added value to their merchants, even equipping the to launch loyalty campaigns and in-store rewards programs. In a time where customer foot traffic has been adversely affected by the pandemic, these add-ons can make an impactful difference to a business and it’s customers. Zapper is clearly more than just a payments solution and the value extends to helping their merchants grow their businesses, making them our top choice!
At getlion, it’s our mission to see entrepreneurs succeed. We start by helping them make the best decisions for their business, and sort through the clutter of offerings out there! Beyond that, we’ve set out to build South Africa’s leading one-stop mobile app for entrepreneurs, boasting Education, Rewards, Funding, an online Marketplace and more. We’ve also partnered with the country’s leading companies to ensure that our users have access to the best (and often discounted) solutions. Visit getlion.co.za and download the getlion™️ mobile app to enjoy offers from leading partners like Yoco, Zapper and others.