HomeCard PaymentsIs iKhokha Legit? 10 Facts You Need to Know About iKhokha

Is iKhokha Legit? 10 Facts You Need to Know About iKhokha

Asking yourself, ⭐Is iKhokha Legit?⭐. We'd love to share a little bit more about South Africa’s most exciting fintech. Come along for the journey.

Is iKhokha Legit? 10 Facts You Need to Know About iKhokha

So, you’ve seen iKhokha advertising banners online. Maybe you’ve seen us on a billboard on your way to work? You might have even seen our latest television commercial. And you’re wondering, is iKhokha the real deal and can they help me grow my business?

At iKhokha, we have one goal in mind. We’re here to empower small businesses to participate in the digital economy and grow their businesses.

From card machines to complete POS solutions, a free app packed with digital business tools, ecommerce products, business funding and education, we’re always finding new ways to accelerate entrepreneurship in South Africa.

We are a purpose-driven business that believes in making forward-thinking technology available and accessible to all South African business owners, whether their business is just starting out or already on the highway to growth.

Here are 10 things you need to know about iKhokha (and a bonus).

1. We’ve Been Around for 10 Years

We just celebrated our 10th year anniversary milestone and it has us reflecting on how far we have come.

iKhokha, meaning “to pay” in isiZulu, is a co-founder lead business started by Matt Putman and Ramsay Daly. While we started out with card machines way back when we were still starting up in a garage, we now have an array of business tools that strive to fulfil the promise we first made over 10 years ago: to make business easier.

2. We Design Our Digital Products In-House

We’re not like other tech companies. We’re proud to say our team of product owners, designers, developers and engineers build all our digital products in-house.

Based in Umhlanga, we research, ideate, prototype, test, rollout and evolve all of our digital products in-house. For us, having complete control over the design and development of our products is how we can ensure that we’re doing our very best to make business easier for our merchants.

It also makes us a bonafide African tech company that isn’t just outsourcing projects to global tech talent, but that’s investing in homegrown South African skills.

3. Our Card Machines Help Businesses Sell In-Person

Many South African businesses, especially in the informal sector, are still cash-based. But it isn’t from a reluctance to start accepting card-based transactions.

In days gone by, small businesses simply couldn’t afford a card machine. Monthly rental fees and high transaction rates made it near impossible for these businesses to take part in the digital economy. That’s where iKhokha comes in.

When you buy an iKhokha card machine, it’s yours for life. That means no monthly rental fees – ever.

iKhokha card machines accept Visa and Mastercard debit and credit cards, along with Apple Pay and Samsung Pay. Here’s a look at our card machines.

The Mover Pro

It’s the perfect card machine for business starting out and businesses already on-the-go. It fits in your pocket so you can accept card payments anywhere anytime. All you have to do to start making sales is connect the device to your smartphone via Bluetooth. It’s that easy! Get to know more about the Mover Pro.

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The Flyer

The iK Flyer is our top of the line card machine, with capabilities that will - without a doubt - help make your entrepreneurship dreams come true! This bad boy was designed with speed and reliability to ensure that no business owner has to miss a sale due to issues outside of their control. Unlike card machines with built-in batteries, the iK Flyer has a removable battery that allows you to replace the old battery with a new one, should you ever need to.

Choosing the right card machine can feel like a lot of pressure. Get a head start with this read: The Best card machines for small businesses

4. Our Ecommerce Products Help Businesses Sell Online

We know the opportunities that await small businesses online. Yet, it hasn’t always been easy for small businesses to take that leap. To bridge the gap, we’ve launched a series of ecommerce products, starting with the iKhokha Payment Gateway.

It’s the first in the iK Pay Online product stable, a planned release of a selection of easy-to-use ecommerce products that helps businesses cash in on the ecommerce boom!

Find out more about iKhokha Payment Gateway and how you can sign up.

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5. Our App is 100% Free

The iKhokha app is free to download from the App Store, Google Play or the Samsung App Gallery. It’s basically a business in your pocket that you can get for nothing. All you need is your smartphone.

It gives merchants the power to keep track of business, and accept card payments all while having access to business tools that help you grow your business; tools like iK Prepaid, iK Cash Advance and much more.

6. You Can Sell Prepaid Products

We all know that making money is the end-goal of every and any business. iK Prepaid is an in-app feature that gives you the power to make money from just the palm of your hands.

How? It enables you to sell anything prepaid – from water, electricity and gas to airtime, data and SMSs as well as settle bills like traffic fines and DStv for your customers.

By doing so, it opens up a lot of opportunities for your business to maximise its profit by earning commission on every qualifying sale and make extra cash. And the best part is, all you need is the Mover Pro and your iKhokha App to start selling wherever you are.

7. We Give Our Merchants Access to Funding

Many business owners have run into an expense they didn’t see coming. From needing a cash injection to cover an overhead to sudden opportunities that need funding – financial pressure can come knocking at any time.

The iK Cash Advance was made to do three things:

  1. Give merchants access to funds without the hassle that comes with traditional bank loans.
  2. Customise their cash advance and offer them flexibility in payback terms.
  3. Keep their business open and running even when things are slow.

READ: How to Get a Business Loan: More Working Capital with iK Cash Advance

8. We Offer World-Class POS Solutions

Your point of sale is the last contact your customer has with you – they make the purchase, you ring it up and they pay for your product or service. If you’re a businessowner, you know the value of a good checkout experience. But you may also know that finding a POS system for your business that’s smart, simple and gets the job done isn’t always an easy task.

As a business owner, you need a POS solution that can speed up checkout so you can clear the queue quicker and hassle-free whilst keeping an eye on business. Our globally-recognised POS solutions are designed to help you do just that.

With iKhokha, you get POS software that helps you:

  • Accept cards

All iK POS systems work with iKhokha card machines to help you perform speedy card transactions and checkout

  • Control stock

Keep track of stock and manage suppliers easily with our intelligent inventory management

  • Get real-time reports

Find all your analytics with real-time updates in one place to view at your convenience

  • Manage remotely

Keep any eye on business from wherever you are in the world using your phone or laptop

Find a POS package that works for you here.

9. Our Transaction Rates Are Among the Lowest in SA

What does it cost to run an iKhokha card machine? We keep our fees low so you can enjoy more of your money. This way, we ensure that quality financial technology is accessible for all small business owners in South Africa.

Low transaction rates

We aren’t bragging when we say our transaction rates are among the lowest in South Africa. With our starting rate of 2.75% (excl VAT) being the lowest in SA, anyone can afford to own and run an iKhokha card machine. Plus, we offer custom rates for businesses over a certain amount.

Zero monthly rental fees

There are no hidden fees. There’s simply zero monthly rental fees on all iKhokha devices. That means when you buy an iKhokha card machine, it’s yours to keep. For life!

Small settlement fee

Getting settled is that ka-ching moment when your funds are transferred into your account. This process takes around 1 – 3 business days and we charge a small fee of R2.50 per daily settlement (no matter how much you make) – that’s the settlement fee. This fee is only applicable for the days you trade. No trade, no pay.

We’ve created a way for you to find out exactly how much you would be saving with iKhokha on our rates and fees calculator. If you’re looking to save on transaction rates, save on card machines and save on the stress of monthly rental fees, go to our rates and fees calculator.

10. We Put Our Merchants First

We’re committed to equipping our merchants with quality business tools, education and next-level customer support because when they grow, Mzansi thrives.

Aside from world-class products, we also offer our merchants marketing support. From free iKhokha swag to promotional videos, we get a kick out of sharing the exceptional stories from our merchants that inspire every day. Here’s a look at our most recent merchant spotlight, GOOD: Bread & Stuff.

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BONUS: We’re Big on Business Education

Anything business stirs us up! We’ve compiled a world of business education, tips and tricks and help you on your course to real business growth on our blog.

Every month, we send out a newsletter that keeps you clued up on what’s new at iKhokha – from our favourite blogs of the month to new product updates and even life with iKhokha. And it’s absolutely free!

Want to get in on the action? Sign up to our newsletter!

Join a Team of Cool, Humble and Diverse People

iKhokha is made up of over 200+ individuals who strive every day to bring our shared vision to life. Our philosophy is this – together we rise.

With next-level customer support, handy business tools and business content to fuel your business journey to success, there’s much to look forward to.

So, if you’re looking to partner with a brand that stands by your business as much as you do, contact our team to find out more. You can reach us on our email or chat to our humble bot. But if you’re looking for a more human interaction, call us on +27 87 222 7000 or get a call back from one of our friendly consultants.