A popular financial technology company, Kuda, has launched a virtual and physical point-of-sale (POS) product for it's customers to ensure better service delivery and effective transactions.
This new initiative is targeted towards easing payment processing for freelancers, and small, and medium-sized enterprises.
This is coming from a statement released on Tuesday, with the company, explaining that the newly launched payment solutions, is designed to help businesses accept payments faster while handling major challenges like delayed payment confirmations and fragmented banking services that many SMEs face.
The statement said that, the Virtual PoS creates allowance for business operators and owners to process payments at scale using just account numbers, and eliminating the need for physical hardware usage for transactions.
Speaking about the launch of the company's new product, Vice President of Product and Innovation at Kuda, Nosa Oyegun, said: “Our goal with the physical and virtual PoS terminals is to empower Nigerian SMEs with tools that not only simplify payment processes but also enhance their overall business efficiency. The virtual PoS, in particular, represents the future of payment processing, eliminating the need for hardware and reducing costs while ensuring that businesses receive payment alerts instantly.
“For businesses that require face-to-face transactions, our hardware POS offers speed and reliability, which are crucial for SMEs. We are committed to addressing the unique pain points faced by Nigerian businesses, such as delayed payment confirmations and fragmented banking services.”
He explained further that the new devices were designed to handle card payments and bank transfers with the added benefit of quick transactions, allowing businesses to gain smooth access to their cash after transactions.
The statement reads thus: "This innovative solution is appealing to businesses looking to expand their operations while minimising costs, as it allows the creation of multiple free terminal account numbers. These unique account numbers can be assigned to sales staff, who will receive instant payment confirmations through email, text message, or directly on their phones when customers make payments”.
The vice president also pointed out that the introduction of the POS solutions was a show and confirmation to Kuda Business’ commitment to supporting the growth of Nigerian SMEs and business operators.
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