KEY POINTS
- Kuda launches virtual and physical PoS solutions to simplify payments for SMEs.
- The Virtual PoS eliminates hardware needs and ensures instant payment alerts.
- Kuda aims to address challenges like delayed confirmations and fragmented banking.
Kuda a prominent fintech firm that has recently released its virtual and PoS solutions that will be beneficial for SMEs and independent workers in terms of payment.
The innovative solutions accessible through Kuda Business solve the abovementioned problems by empowering businesses to accept payments quickly, thereby reducing instances of delayed confirmations and overcoming fragmented banking systems.
As stated earlier in a statement made on Tuesday, Kuda explained that the Virtual PoS means there is no need for any hard ware since business owners can process the payment at a large scale just in account numbers.
This innovation allows creation of several terminal account numbers for sales people and though the innovation the sales people are able to receive confirmations on payment made through text, email or even through mobile screen.
Kuda introduces more payment facilities to self-employed people
The fintech firm noted that the new PoS products do carry the capability to assist the companies in managing card and bank transfers for the ability of instant settlement.
This helps businesses to access their funds soon after the exchange of the business transaction which in turn enhances their cash flow. As Kuda pointed out, this solution is most helpful to organizations seeking to reduce expenditure as they scale up their operations.
Speaking on the new PoS products, Nosa Oyegun, the Vice President of Product and Innovation at Kuda noted that the new products will enhance efficiency by providing Nigerian SMEs with effective payment solutions. In Oyegun’s opinion,
“The virtual PoS is the idea payment solution where physical tools are phased out for business to get real time alerts of the payment processed. ”
Virtual PoS reduces the stress of payment with confirmation of transaction
For businesses that need physical cash transactions, Kuda’s PoS is fast and efficient just as it matters with SMEs. Oyegun also added that the launch of those PoS solutions proves that Kuda continues to empower Nigerian SMEs by eliminating such long-standing issues as slow processing of payment confirmations and fragmentation of the banking services market.
Some of the innovative services provided by Kuda are inclusive in the company’s quest of providing financially inclusive services for Nigerian businesses. With these solutions, the company intends to cut its expenses and make it possible for business entities to settle payments effectively hence contributing to the growth of SMEs.
They still expand their opportunities, as well as strengthening the position in the rapidly growing Nigerian fintech market and catering to the needs of SMEs and freelancers by providing useful and specific solutions.
The products’ purpose of increasing the business effectiveness, decreasing expenses, and improving the payment systems make it possible for Nigerian companies to be successful in a variety of industries.
