Fast-growing fintech empowers SA SMEs with innovative payment solution

In 2022, small business owners expect automation and precision from the fintech companies that provide their payment solutions. It’s no longer an advantage – it’s a necessity for any fintech worth its salt. Durban-born iKhokha does just that with its new automated dynamic pricing fee structure.

As running a business becomes more expensive, it’s always a relief when day-to-day costs go down. Plus, as growing a business gets more complicated, it’s an even bigger relief when a task is taken off your to-do list.

When these two things happen at the same time through finely tuned automatic processes, it’s something worth knowing.

Overcoming Small Business Growth Challenges

Growing a business is difficult. Whether it’s managing inventory, paying suppliers and rent, or dealing with costly unexpected costs. Fortunately, we live in a time when digital tools abound. Especially those that help you manage your business and your money.

Amid all of this, there’s something else that’s holding small businesses back from fully embracing the digital way of selling: hidden costs. Often, these surprise fees come from high transaction rates. These are the fees you pay whenever someone pays you using their debit or credit card, either through a card machine or through an online payment gateway.

In some cases, business owners preferred to keep their sales in cash to avoid losing money to high transaction rates and monthly rental fees. With the wrong card machine and payment system, it’s easy to get caught in a cycle of paying more to sell more.

But avoiding card payments is not the right decision. We live in an increasingly cashless environment, and business owners need to track customers’ preferred payment methods. So what’s a business owner to do?

iKhokha engineers have worked hard to make it easy for small South African businesses to do business. Now, through a combination of automation, monthly reviews and a new dynamic fee structure, iKhokha has found a way to put the power back in the hands of its merchants.

Dynamic pricing

Dynamic pricing saves merchants time and money. The concept is simple but effective: the more you sell, the less you pay.

The recent upgrade to iKhokha’s transaction processes means customers don’t need to take time out of their day to inquire about a lower rate. Instead, iKhokha will review a company’s monthly transactions and automatically lower its rates if it has met the volume requirements for a lower rate band.

It’s fast, it’s automated, and it’s exactly how your card machine provider should operate.

The best part is that once your rates have been lowered, they can never go back up. Thus, whether you had a good month followed by a less good month, your transaction rate will remain in the lower bracket. This is rooted in iKhokha’s philosophy of helping small businesses grow and being there for them, through good and bad.

Additionally, there are several ways to route all of your sales through iKhokha to lower your rates. Its new online payment gateway will also help you increase your transaction volume.

Learn more about getting your business online in this article: The Hitchhiker’s Guide to Making Money Online

How it works?

iKhokha accurately tracks each trader’s trading volume and will conduct a formal review every month. From there, customers will receive an automated mail that will let them know how they did, what their numbers are, and that they fell to a lower transaction rate.

When you’re an iKhokha merchant, other than making sure your sales are doing well, you hardly have to lift a finger to access your pricing.

The standard starting transaction rate at iKhokha is 2.75% (excluding VAT), which is already one of the lowest rates compared to other card machine providers and financial institutions. However, as your business grows in popularity, you will fall into a lower transaction rate bracket.

Find out exactly how you pay less to sell more using the iKhokha Fee Calculator.

Custom pricing is available for merchants trading R100,000 or more in a single month. This is the only time you’ll need to call and negotiate a rate that’s right for your business.

If you are a small business owner looking for the lowest transaction rates in South Africa, visit to find the best card machine for your business.

About Matthew R. Dailey

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