A new product, a new home, and a very special event

Being a tech company, we love the digital space. We value the instant access to information, the speed, the emoticons and the ability to collaborate and help people no matter where they are in the world. In fact, last month alone the Yoco team sent 92 000 messages to each other on our internal instant messaging platform, Slack, and over we had 50 000 interactions with people on our social channels.

But, there’s something else we value just as much. If not more. It’s the ability to meet people in real life, to shake hands, express emotions and experience products first hand.

This is why we opened the Yoco Store. A space that will soon be known as ‘the home of the entrepreneur.’ We’re proud to say it’s one of the first of its kind in the whole world.

Shop for a card machine

Yoco CEO, Katlego, kicked off the event by sharing why small businesses are so crucial to the country.

“SMB’s contribute 50% to the economy and employ over 60% of the country.” – Katlego

Katlego Maphai

He went on to explain that small businesses are also hugely underserved by the larger providers.

“If you select any small business in South Africa, there is a 75% chance that your customer will want to pay by card but only a 10% chance that you will be able to accept card payments.”.

Katlego handed over to Nic Haralambous, founder of Nic Harry, who shared a bit about his entrepreneurial journey and how he went from running an e-commerce site to owning four stores.

Yoco Store Nic Harry

“Part of the reason we opened a physical store is because we wanted to put our customer service in front of people. The best way to do that is to bring them into a physical space.” – Nic

Nic went on to explain how when Lungisa from Yoco first approached him with the idea of a store he warned that they were crazy. But once they got into it, everyone realised there was something compelling about having a physical Yoco presence.

“This is a world-class store.” – Nic

Katlego then invited Lungisa, Yoco’s CTO, to speak about our latest product release – the Yoco Point of Sale.

“We see a Point of Sale as the engine – the heart of a business. If you take a business that is not operating on a Point of Sale, there is so little they know about how they operate as a business. A Point of Sale is essential, however, because of the extreme costs of getting it, typically only larger businesses can access these high-quality products.” – Lungisa

Lungisa Matshoba

Lungisa demonstrated the new Yoco Point of Sale and how each feature helps the business owner provide a better experience for their customer.

“Everything we’ve built has been done to give the business owner fine-grained control. The Yoco Point of Sale is YOUR point of sale, it’s the ERP for your business. You can customise your products the way you need to, control what permissions your staff have and get insights on every single thing sold.” – Lungisa

The crowd-pleaser moment was the announcement that every business who owns a Yoco card reader gets the Yoco Point of Sale for free!

After the talks, the audience was invited to the Yoco Experience Wall. And using the pre-paid gift cards they received in their goodie bags, our guests could select their own gift through testing out the Yoco Point of Sale – placing the order, checking out and completing the transaction by using the Yoco Pro card reader.

Yoco experience wall

Thank you to everyone who attended and helped to make the event so incredibly special. We would also like to thank everyone who couldn’t attend but still supported us from afar by watching our Facebook Live video.

Yoco Founders Lungisa, Bradley, Katlego, Carl

If you don’t have time to watch the full video you can see a quick recap of what took place in the video below.


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