Original disclosure @ FMO website
Updated in EWS Jul 10, 2018
Disclosed by Bank Jun 18, 2018
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Yoco is seeking to fill the "acceptance gap" in South Africa. The acceptance gap is unique in sub Saharan Africa and relates to the fact that a large number of consumers have a credit/debit card or mobile wallets, but merchant acceptance is low due to high fees and prohibitive setup costs.
Yoco Technologies Pty. Ltd. is a mobile-point-of-sale (mPOS) company targeting South African (M)SMEs, established in 2013. The company works with acquiring banks to enable small businesses to accept digital payments via cards and electronic payment platforms. Yoco sells the mPOS devices to merchants and earns revenue in the form of transaction fees thereafter.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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*Contact information not provided at the time of disclosure*
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism