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Yoco and MediaTek partner for payment solutions for African entrepreneurs

Yoco has joined forces with MediaTek to point of sale terminal machines for small businesses across Africa. The collaboration has resulted in the creation of the Yoco Neo Touch range, a series of user-friendly card machines powered by MediaTek’s Genio series of Internet of Things (IoT) chipsets.

The Yoco Neo Touch card machine, priced at R899, is designed to connect to 4G networks, offering unparalleled speed and unlimited data. It can process tap, chip and pin, and mobile payments in less than three seconds. With an all-day battery life, an intuitive touchscreen, and the capability to accept payments immediately upon unboxing, the Yoco Neo Touch is set to make payment acceptance swift and effortless for small-scale merchants.

Rami Osman, director for business development at MediaTek Middle East and Africa, acknowledged the crucial role of small, owner-operated businesses in African economies.

He expressed concern that high monthly and transaction costs often exclude these businesses from the formal payments infrastructure. This partnership aims to address this issue, making card payments more accessible for small businesses.

“Our platforms enable innovators like Yoco to come to market rapidly with solutions for small merchants that meet customers’ demands for seamless payment experiences. This boosts financial inclusion by helping small merchants decrease their reliance on cash, enabling them to improve cash flow management and compete with large retailers on a more even footing.”

Drama-free payments

“The core customer for the Neo Touch is a small business, where a time-strapped owner is juggling money constraints, cash flow problems and operational challenges like loadshedding,” says Berno Potgieter, hardware product lead at Yoco.

“South African business owners don’t need more problems – that’s why with the Neo Touch, we offer drama-free payments. As our hardware platform provider, MediaTek accelerates our time to market with reliable, and innovative products for small businesses.”

MediaTek is the world’s fourth largest global fabless semiconductor company and powers more than two billion connected devices annually. IoT platforms such as MediaTek Genio help OEMs bring devices to market faster. The MediaTek Embedded IoT programme features AI-capable chipset platforms that enable companies to develop intelligent devices.

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