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PayMongo vs Yoco
PayMongo and Yoco are both card processing platforms. On a $1,000 payment you keep about $965–$975 on PayMongo and $970.50–$974 on Yoco, before withdrawal or currency-conversion costs.
Updated · from each platform’s published fees and payout terms · how we verify
Key differences
- On a $1,000 payment you keep about $965–$975 on PayMongo and $970.50–$974 on Yoco, before withdrawal or currency-conversion costs.
- Both pay out via Bank transfer. Only Yoco offers instant for fee.
- Yoco is the older platform — founded in 2015, 4 years before PayMongo (2019).
- PayMongo is based in Philippines, Yoco in South Africa.
Which should you choose?
Choose Yoco if…
- You want to withdraw via instant for fee.
Side by side
PayMongo
A Philippine payments platform letting businesses accept cards, e-wallets, and bank transfers.
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Yoco
A South African payments company letting small businesses accept card payments with readers.
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|---|---|---|
| Type | Card processing like Stripe | Card processing like Stripe |
| Category | Payments | Payments |
| Vetted | No | No |
| Work from home | Yes | No |
| Fees | Cards 3.5% + PHP 15, e-wallets ~2.5-3% | 2.6-2.95% per card transaction |
| Minimum payout | — | R50 for Instant Payout |
| Payout speed | Standard settlement in 2 to 7 days, or instant settlement to PayMongo Wallet for a fee | Instant Payout arrives within an hour. Standard payouts typically take 1 to 2 business days. |
| Withdraw via | Bank payout ~T+1 | Bank payout 1-3 days, instant for fee |
| Availability | Philippines | South Africa |
| Local to | Philippines | South Africa |
| Founded | 2019 | 2015 |
| Headquarters | Manila, Philippines | Cape Town, South Africa |
| Popularity | 46 views · 0 likes | 45 views · 0 likes |
Frequently asked questions
Which is cheaper, PayMongo or Yoco?
On a $1,000 payment you keep about $965–$975 on PayMongo and $970.50–$974 on Yoco, before withdrawal or currency-conversion costs.
How fast do PayMongo and Yoco pay out?
PayMongo: Standard settlement in 2 to 7 days, or instant settlement to PayMongo Wallet for a fee. Yoco: Instant Payout arrives within an hour. Standard payouts typically take 1 to 2 business days.
Where are PayMongo and Yoco available?
PayMongo: Philippines. Yoco: South Africa.