:format(webp))
Fraud and Security
This guide provides tips and techniques to protect you, your business, and ensure that you continue to sell safely.
How Yoco keeps your money safe
Safeguarding your business transactions is a top priority for us. Our dedicated transaction monitoring team, advanced technology, and partnership with Mastercard and Visa, ensure a secure environment for all our merchants. Here’s what you need to know about our approach to fraud prevention and security.
Suspect fraud?
Report issues immediately to [email protected] or anonymously via [email protected]. You can also call Support at 087 550 9626.
As a customer
Verify transactions with the merchant, check your bank statement and report any issues to your bank immediately.
Communication
We’ll only use “@yoco.com” emails or our support line and never ask for your PIN or password. Stay cautious.
Fraud prevention standards
Our risk management team uses a multi-layered approach, leverages advanced fraud detection tools, and real-time monitoring, to detect and prevent fraud. We maintain fraud rates that are in line with international industry standards. Here are just some of the ways we protect you:
Global compliance
We adhere to both global and local anti-financial crime standards, supported by regular external audits.
Secure partnerships
Our work with Mastercard and Visa helps us maintain strict fraud prevention practices.
Sophisticated technology
Our systems proactively screen transactions to monitor, detect, and prevent suspicious activity in real-time.
:format(webp))
Our fraud prevention process covers every angle:
Prevention: We use encryption and real-time fraud screening on every transaction to keep your data safe.
Monitoring: Our system continuously checks for unusual activity, flagging transactions for further review if needed. Our dedicated team is on call 24/7, every day of the year, to ensure ongoing vigilance and support.
Investigation: The transaction monitoring team investigates suspicious transactions, works with law enforcement when needed, and ensures your funds and information are secure.
How to protect yourself from fraudsters
How to protect yourself from fraudsters
Buy smart:
Only purchase your Yoco devices directly from us or trusted and authorised sellers. Scammers often hide in online marketplaces, so steer clear of deals that seem too good to be true.
Close the loop:
Link your Yoco profile directly to your bank account for a secure setup.
Stay vigilant:
Keep a close eye on your bank statements and ensure every transaction makes sense.
Take control
No one should ever sign up on a Yoco device on your behalf, check your app regularly to monitor transactions.
:format(webp))
How to keep your transactions secure
Verify all communication from us. We will always reach out to you through official channels like emails from “@yoco.com”, and calls from our support line. When in doubt, contact us directly to confirm communication. We will never ask for your PIN or password via email, SMS, or phone. Be cautious of unexpected emails or messages requesting personal details.
:format(webp))
Protect your passwords
Use a combination of letters, numbers, and symbols for a more secure password.
Avoid reusing passwords across multiple accounts and never share them.
Don’t click on unverified links — these may be phishing attempts.
Types of fraud and how to stay safe
Phishing:
This is when criminals send emails - or other messages - claiming to be from Yoco in order to persuade you to reveal personal information, such as passwords and credit card numbers. --- Beware of suspicious links or emails asking for personal details. Always verify the source.
:format(webp))
Card fraud:
Card fraud can include account takeover fraud, new account fraud, cloned cards, and cards-not-present schemes. --- Watch out for unusual requests from unknown customers. Verify authenticity before transactions.
:format(webp))
What to do in specific situations
:format(webp))
:format(webp))
Best Practices for Secure Use of the Yoco App and Web App
:format(webp))
Tips for using the Yoco App and Web App
Security
Only access your account on secure, trusted networks. Avoid public WiFi for sensitive financial tasks.
Transactions
Keep a close eye on your transaction history for unusual activity.
Software
Keep the Yoco App and Web App software updated.
Log out
Log out after each session, particularly on shared or public devices.
Final reminders
1
We will never request sensitive details like your password or PIN via email, SMS, or phone.
2
Be vigilant against phishing attempts - contact Yoco support if you’re unsure about a message or link.
3
Report any suspicious transactions immediately to our transaction monitoring team.
1. Is there a dedicated fraud contact at Yoco?
Yes, report fraud at [email protected]. For general support, use our regular contact number. Public tip-offs can also be emailed to [email protected].
2. How can I be sure it’s Yoco contacting me?
We will only contact you via official @yoco.com emails or calls from our support line. When in doubt, reach out to our support directly to verify.
3. How should I protect my Yoco passwords?
Use strong, unique passwords and update them regularly. Also never share your password or click unverified links.
4. What types of fraud should I be aware of?
Phishing: Be careful with links from unknown emails or messages and never share personal details or pins.
Card fraud: Keep an eye out for any unusual customer requests or transactions. And double-check if something doesn’t seem right.
Stay vigilant for any suspicious transaction and always verify communication. Report any concerns to our risk team.
5. What is transaction monitoring and why is it important?
Transaction monitoring (For Yoco) is the real-time monitoring of merchants transactions in an attempt to detect and prevent fraud and money laundering activities to meet regulatory requirements.
6. What does it mean when my account is under risk review?
It means we’re verifying one or more transactions and that may take 3-7 days.
7. Can Yoco hold my funds?
Yes. If a transaction appears high-risk or suspicious, we may hold funds until all required documents are provided.
8. When will I receive my funds after a risk review?
Funds will typically reflect in your account within 24-48 hours after a review concludes.
9. Why might my Yoco services be terminated?
Confirmed fraud, high-risk activity, or operating a prohibited business can all lead to account termination.
10. What if a transaction is flagged as fraud by the bank?
Our team will:
- Request an invoice and supporting documents.
- Review the account.
- Communicate progress via phone or email. If deemed fraudulent, funds will be returned to the cardholder.
11. Why does Yoco refund money back to the cardholder?
Refunds are issued if transactions are suspicious, high-risk, or lack proper documentation. Refunds can take 1-10 days depending on the cardholder’s bank.
12. Why does Yoco require an invoice for transactions?
Invoices help verify the legitimacy of transactions as required by Visa, Mastercard, and our terms.
13. Can a real Yoco machine be set up to fraudulently reroute sales to another bank account?
Yoco devices are secure and cannot be easily manipulated for fraud. The only way funds could be misdirected is if a scammer impersonates a Yoco employee, assisting a merchant in setup and inputting their own bank details instead of the merchant’s.
14. How can someone verify if a machine is a real Yoco device?
Yoco devices are typically purchased directly from Yoco or authorised partners. Users can verify authenticity through Yoco’s official channels, and each device has unique identifiers that can be verified within the Yoco app.
15. Does Yoco work with the South African Police on this case?
Yes, Yoco’s team actively supports SAPS/Hawks by responding to subpoenas and providing key transactional information, including statements and account details relevant to an investigation.
16. How easy is it to “rig” a speedpoint machine like this to reroute funds to another account?
It’s nearly impossible to redirect funds on a genuine Yoco Device without AUTHORISED access from the merchant to the Yoco Profile linked to the device. Even if access were gained, such actions would leave a digital footprint, which helps in detecting and preventing fraud.