Mastercard has announced a collaboration with Yoco to roll out 15,000 mobile Point of Sale (mPOS) devices to small and medium-sized businesses by the end of the year, while educating them on the benefits of going cashless.
To start accepting card payments, business owners simply connect the Yoco card reader to their Android/iOS smartphones or tablets. The hardware is paired with a comprehensive Point of Sale (POS) application and business intelligence portal to give businesses real-time access to sales insights and analytics, helping them to further boost their revenue through informed decision-making.
“Small and medium businesses employ over 60 percent of the labour force in South Africa, yet they lack the basic tools necessary to accept electronic payments and run their businesses effectively,” says Katlego Maphai, CEO of Yoco. “Through this partnership, we will empower even more small businesses that previously did not accept card payments, while growing the market and making a contribution to our economy.”
According to Mastercard, small and medium-sized merchants that have never accepted card payments are turning to mPOS solutions to expand their customer base and increase sales.
“While the number of South Africans with access to formal banking products has grown substantially over the last few years, the number of card acceptance locations – especially at small businesses – has not grown in parallel,” says Mark Elliott, Division President for Mastercard, Southern Africa. “Solutions like Yoco enable these small and medium businesses to respond to their customers’ increasing desire to pay for goods and services with payment cards rather than cash, which is higher risk, without making large upfront investments in infrastructure or facing high transaction costs.”
Since launching its mobile card acceptance offering in 2015, Yoco has grown its base to over 14,500 merchants and is now adding over 1,200 new merchants every month. Its affordable pay-per-use transaction pricing model with no fixed monthly rental fee appeals to smaller merchants that normally would not be able to afford traditional card terminals. According to Yoco, over 70 percent of its merchants had never accepted cards before.
The company’s growth is a result of its innovative distribution through the Yoco online store, where 80 percent of its card readers are sold. A business can register and purchase a card reader in less than five minutes, with delivery taking an average of two business days. Yoco is also expanding its physical retail distribution, where businesses can purchase a card reader from several national retail partners and its newly launched Yoco Store in Parkhurst, Johannesburg, and transact the same day
Hlobsile Manana, founder and owner of Mbali Rose Hair, says since signing up with Yoco, her businesses has flourished.
“I can use it on my tablet when I’m at the shop, and when I go out to markets, I’m able to use my phone. Around 65 percent of my sales are processed on Yoco. Offering customers card payments is not only more convenient, it also means they do not have to carry around large amounts of money and feel unsafe,” she says.
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”