Introduction to Point-of-Sale Systems
In today’s fast-paced business environment, Point-of-Sale (POS) systems present an innovative solution for customer payments, especially for small and medium enterprises (SMEs). These systems not only expedite the checkout process but also efficiently manage sales data, store vital customer information, and generate insightful reports for business analysis. Retail and hospitality industries are particularly embracing POS systems for their transformative benefits.
Comparative Analysis: iKhokha and Yoco POS Systems
For small businesses seeking the right POS system, two prominent options stand out: iKhokha and Yoco. This article provides a detailed comparison to aid in making an informed choice.
iKhokha: A Diverse Range of Solutions
Overview of iKhokha
iKhokha, a digital-savvy entity, aims to empower South African entrepreneurs to thrive in the digital economy by providing a variety of card machines and POS systems for accepting card payments.
Key Features
- Online tools for report generation, settlements, refunds management, product and staff management, and access to working capital after three months of trade.
- Except for the Shaker Solo, all card machines connect via Bluetooth to smartphones. The Shaker Solo uses a 3G SIM for independent operation.
- Three POS software options: Retail (including product and staff management, analytics, and customer loyalty programs), Hospitality (custom table layouts and order management), and Enterprise (with an additional POSter software license).
Pricing Structure
- Mover PRO at R999, featuring Tap & Go and Bluetooth connectivity.
- Shaker DUO at R2499, with a built-in printer and Tap & Go.
- Shaker SOLO at R3249, offering WiFi, a built-in receipt printer, and SIM card support.
- No monthly fees; transaction rate at 2.75% ex VAT.
Benefits
- Integration of card, cash, and loyalty payments.
- Custom Cash Advance for active merchants.
- Poster Boss app for detailed sales analysis.
- Rapid delivery of card machines.
- Competitive transaction rates.
Yoco: The Small Business Champion
About Yoco
Yoco facilitates card payments for small businesses through its comprehensive POS system, which includes the Yoco Point of Sale and Business Portal.
Key Features
- A suite of online tools, including iPad and cellphone bundles and accessories.
- Requires an internet connection/3G.
- Compatible with Android and iOS devices for managing sales and issuing digital receipts.
- Enhanced customer service with bill splitting, discounts, digital receipts, and refund management.
- Employee management with individual accounts and secure PIN codes.
- Inventory management with product customization.
Pricing Details
- Yoco Go at R499 for contactless payments.
- Yoco Pro at R999, ideal for in-store use.
- Yoco Neo at R2199, which operates without smartphone pairing.
- Transaction fees start at 2.95% (excl VAT), decreasing with higher turnover.
Benefits
- Integration with Xero, Vend, and TabletPOS.
- Access to sales history and business data online.
- Payment Request feature for online Visa and MasterCard payments.
- Free access to Yoco POS app and Business Portal.
- Expert support available daily.
Conclusion: Choosing the Right POS System
Selecting between iKhokha and Yoco depends on specific business needs, considering factors like pricing, features, and the type of industry. Both systems offer unique advantages, making them suitable for different business models in the SME sector. Careful consideration of their offerings will ensure that businesses choose a POS system that aligns with their operational requirements and growth aspirations. For restaurant specific needs, Slant POS is the better option for a free restaurant POS software.
