1 reviews | Active since Jan 2012
Settlement not paid.
I sold stock worth R 60 000 to a customer after they presented a card and pin code, The transaction was approved and stock given to the customer. This happened in February. YOCO didn't pay the settlements for that day because the owner of the card reported it to the bank. Who then shared their pin code with the purchaser? Why should i be the once that incur the loss yet i was presented with the card and the pin? to date i am still battling to replace stock lost and YOCO doesn't even take any responsibility to this issue. To small businesses that are looking at different payment option consider a service provider that will at least take responsibility for their stupid speed point and untruthful acts and most importantly respond to queries, Buy it at your own risk should be their tag line. This is hear breaking
Trust you are well.
This email is to inform you that due to the high value confirmed ***** that occurred at your business in January, Yoco followed protocol whereby the funds were returned to the cardholder's bank, whereby they would have been refunded. Yoco is governed by mastercard and VISA rules and the bank scheme whereby if there is any confirmed ***** on a merchant account, we are allowed to investigate this claim and can return the funds back to the bank if necessary.
Kind Regards
Risk & Regulatory •
Yoco Office +27 (87) ***
Address 56 Shortmarket Street • Cape Town
Above is the response.
So my business incur the lost for your apparent clients being de*****ed.
Below is a transcript from bank site yet you use that to protect yourselves
While Lost Card Protection covers you up to 24-hours prior to reporting your lost or ****** card, you're not protected against any transactions in which your PIN is used. You should never share your PIN with anyone, including bank staff. Keep it safe and keep your money safe.
Trust you are well.
This email is to inform you that due to the high value confirmed ***** that occurred at your business in January, Yoco followed protocol whereby the funds were returned to the cardholder's bank, whereby they would have been refunded. Yoco is governed by mastercard and VISA rules and the bank scheme whereby if there is any confirmed ***** on a merchant account, we are allowed to investigate this claim and can return the funds back to the bank if necessary.
Kind Regards
Risk & Regulatory •
Yoco Office +27 (87) ***
Address 56 Shortmarket Street • Cape Town
Above is the response.
So my business incur the lost for your apparent clients being de*****ed.
Below is a transcript from bank site yet you use that to protect yourselves
While Lost Card Protection covers you up to 24-hours prior to reporting your lost or ****** card, you're not protected against any transactions in which your PIN is used. You should never share your PIN with anyone, including bank staff. Keep it safe and keep your money safe.