Yoco, a South African smart technology payments company, has rolled out a new point of sales (POS) solution for SMEs in the country.

The firm said that the new POS, which is available without any fee, has been designed to empower SMEs to enhance their business.

Yoco is currently upgrading its 14,000 member merchants to the Yoco POS, which will enable businesses to organise stock, ring up sales, do cash ups, reconnaissance and monitor their sales performance in real-time.

Leveraging the new POS, the SMEs can add new products to their inventories by taking photos and filling in the available variants. Once products’ image uploading is complete, it will appear on every Yoco POS app in the store.

Furthermore, a number of payment types can be added to Yoco POS, including card, cash, SnapScan, Zapper, EFT and Bitcoin. The new system also gives customer flexibility to split their bill as they wish to pay.

Yoco CTO Lungisa Matshoba said: “We’ve been developing our new point of sale for over 18 months. During the beta phase, we saw 55 merchants process over 200,000 transactions on the Yoco Point of Sale.

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“The experience highlighted to us the impact Yoco Point of Sale can have on the growth potential of thousands of other small businesses, from hairdressers to restaurants to clothing stores, across the country. The more these businesses grow, the more South Africa grows with it.”