Here's How Yoco and iKhokha Fees Compare
Yoco charges transactional fees of 2.95% – 2.60% Ex VAT and,
iKhokha charges transaction fees of R2.75% – 2.5% Ex VAT plus a nominal daily settlement fee of R2.50.
Both companies offer a nominal percentage discount on fees when your gross monthly transaction turnover reaches certain targets.
The discounts based on monthly turnover is what eventually make both these companies’ fee structures more or less the same at the end of the day.
Also, both companies allow you to negotiate a custom discount in fees if your business transacts over R100 000 per month. See summary tables below:
| Income | Yoco fees % (Ex. VAT) | Yoco fees % (Incl. VAT) |
|---|---|---|
|
Up to R20 000 |
2.95% |
3.39% |
|
R20 000 - R40 000 |
2.85% |
3.28% |
|
R40 000 - R60 000 |
2.75% |
3.16% |
|
R60 000 - R80 000 |
2.65% |
3.05% |
|
R80 000 - R100 000 |
2.6% |
2.99% |
|
Over R100 000 |
Custom Discount |
Custom Discount |
| Income |
iKhokha fees % (Ex. VAT) and Ex. Daily Settlement Fees |
iKhokha fees % (Incl. VAT) and Ex. Daily Settlement Fees |
|---|---|---|
|
R0 – R40k |
2.75% |
3.16%% |
|
R40 – R60k |
2.65% |
3.05% |
|
R60 - R80k |
2.55% |
2.93% |
|
R80 - R100k |
2.5% |
2.88% |
|
Over R100k |
Custom Discount |
Custom Discount |
Here's How Yoco and iKhokha Fees Compare
If you need to see how Yoco vs iKhokha fees play out in real life, here’s a quick summary table comparing Yoco vs iKhokha fees for a business that transacts up to R20 000 in a week in a hypothetical scenario:
As you can see from the hypothetical card transaction history above:
- The daily settlement fee of R2.50 charged by iKhokha doesn’t really affect you much in a span of a full month.
- Ikhokha’s fee structure tends to work against you if you transact very less amounts per day. For example, if you only sold R100 worth of goods. You get charged up to R2.27 extra compared to a Yoco user on that day. But again, the amounts saved are not really that much.
- Both Yoco and iKhokha users pay almost an equal amount in fees charged if the gross amount transacted per day is R1000 (20 cents difference)
- iKhokha becomes cheaper in fees if the gross amount per day is more than R1000. However, these fees will balance out again when a Yoco user reaches a nominal % discount at R20 000 breakpoint.
- As the gross transacted amounts go even higher, custom fee discounts begin to come in.
