Fintech Yoco thinks South Africa's small businesses need fewer apps

In a bustling Johannesburg conference room, Yoco, a South African fintech company, was buzzing with excitement. The company's co-founder and chief business officer, Carl Wazen, was about to unveil a revolutionary shift in strategy that would change the lives of thousands of small business owners across the country. At the Yoco Next 2026 event, the company announced more than 20 new products and features, including AI-powered business tools, loyalty programs, savings products, and a R250 million ($15.2 million) annual reduction in transaction fees for merchants.

The scene was set for a momentous occasion, one that marked a turning point in Yoco's journey from being a payments-focused company to a full-fledged business operations platform. Carl Wazen explained that the company's goal was to bring together various business functions, such as inventory and accounting, into a single platform, simplifying the lives of small business owners who often rely on multiple disconnected tools.

Yoco's entry into the South African fintech scene was marked by its innovative approach to payments. Founded in 2015, the company has served over 200,000 merchants across the country, offering payment devices, software, business financing, and commerce tools. However, as Carsten Höltkemeyer, the company's CEO, noted, payments are no longer the only focus. Yoco is now committed to helping business owners reduce administrative burdens and simplify their operations through modern technology and innovation.

One of the most significant innovations unveiled at the event was Yoco AI, an artificial intelligence assistant expected to launch in the third quarter of 2026. Developed after Yoco acquired Dyner.ai, an AI-native operating system built to help small and medium-sized enterprises (SMEs), Yoco AI will analyze transaction data, customer behavior, and business performance to help merchants make informed decisions about their businesses.

The potential impact of Yoco AI cannot be overstated. By giving merchants access to the kinds of insights and capabilities that large corporations have traditionally enjoyed, Yoco is democratizing access to data-driven decision-making. As Carsten Höltkemeyer noted, "If you can use data to better understand your revenue streams, customer behavior, and business performance, you're in a stronger position to succeed."

Yoco's commitment to innovation is evident in its dedication to developing industry-specific software for businesses such as restaurants, retailers, salons, and wellness businesses. Each software is designed to address the unique operational needs of its respective industry, making it easier for business owners to manage their operations.

Yoco's journey is evidence of the growing importance of fintech in South Africa. The country's fintech industry has been gaining momentum in recent years, with companies like Yoco at the forefront of innovation. The industry's growth is driven by the need for financial inclusion, particularly among small businesses and entrepreneurs who often struggle to access traditional banking services.

Yoco's decision to expand its services beyond payments is a response to the evolving needs of its customers. As Carl Wazen noted, "We are no longer just a payments company; we are a company that helps business owners reduce administrative burdens and simplify their operations through modern technology and innovation."

The impact of Yoco's new strategy will be far-reaching. By simplifying business operations and providing access to data-driven decision-making, Yoco is poised to revolutionize the way small businesses operate in South Africa. The company's commitment to innovation and customer-centricity is a breath of fresh air in an industry often dominated by large corporations.

As Yoco continues to grow and expand its services, it's clear that the company is poised to make a significant impact on the South African fintech landscape. With its focus on innovation and customer satisfaction, Yoco is a shining example of what it means to be a responsible and customer-centric business.

As Yoco embarks on this new chapter in its journey, it's clear that the company is poised for greatness. With its commitment to innovation, customer satisfaction, and financial inclusion, Yoco is a leader in the South African fintech industry. As the company continues to grow and expand its services, it will be exciting to see the impact it has on the lives of small business owners across the country.