How does the hire purchase option work?

iKhokha has partnered with Retail Capital in order to offer a hire purchase option to all iKhokha merchants.

Therefore as an iKhokha merchant that has selected the hire purchase option;

  • You will be committing to hire-purchase a iKhokha card machine owned by Retail Capital for 24 weeks.
  • You will be required to pay an upfront deposit, after which Retail Capital will directly debit you on a weekly basis for the agreed hire purchase fee (the remaining amount) on the day that was selected by the merchant in the application process.
  • Retail Capital will directly debit you on a weekly basis for the agreed hire purchase fee on the day that was selected by the merchant in the application process.
  • At the conclusion of the 24 week repayment period, merchant will own the iKhokha card machine.
  • Should you receive your iKhokha card machine after the agreed upon debit day. Billing will run on the selected day in the week immediately thereafter.
  • The Retail Capital master rental agreement is legally binding and as the merchant you will be obligated to honour the relevant weekly payment for a minimum of 24 weeks.

As the iKhokha merchant, you will own the iKhokha card machine at the end of the hire purchase agreement.

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